Insulet (NASDAQ:PODD) Reaches New 1-Year Low on Analyst Downgrade

Key Points

• Insulet hit a new 52-week low, trading as low as $194.61 after BTIG cut its price target from $380 to $320 (BTIG kept a buy rating); multiple analysts have trimmed targets and the consensus price target is $339.14 with an average rating of "Moderate Buy."
• The company beat expectations for the quarter with Q1 EPS $1.55 versus $1.48 estimated and revenue of $783.8M (vs. $768.3M), a 31.2% year‑over‑year revenue increase.
• Director Michael R. Minogue bought 2,030 shares at about $246.23, raising his stake to 17,483 shares; insiders collectively own 0.39% of the stock.

Insulet Corporation (NASDAQ:PODD - Get Free Report)'s stock price hit a new 52-week low on Monday after BTIG Research lowered their price target on the stock from $380.00 to $320.00. BTIG Research currently has a buy rating on the stock. Insulet traded as low as $194.61 and last traded at $197.4510, with a volume of 14506 shares traded. The stock had previously closed at $196.93.

Other research analysts have also issued research reports about the company. Zacks Research lowered Insulet from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Evercore cut their target price on Insulet from $340.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their target price on Insulet from $415.00 to $340.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Stifel Nicolaus cut their price objective on Insulet from $370.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, February 4th. Finally, Leerink Partners cut their price objective on Insulet from $386.00 to $360.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $339.14.

Insider Buying and Selling

In other news, Director Michael R. Minogue bought 2,030 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director directly owned 17,483 shares of the company's stock, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insulet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its stake in shares of Insulet by 488.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,343 shares of the medical instruments supplier's stock valued at $950,000 after buying an additional 2,775 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Insulet by 35.0% in the 4th quarter. Corient Private Wealth LLC now owns 14,595 shares of the medical instruments supplier's stock valued at $4,160,000 after buying an additional 3,782 shares during the period. Sit Investment Associates Inc. boosted its stake in shares of Insulet by 13.9% in the 4th quarter. Sit Investment Associates Inc. now owns 18,634 shares of the medical instruments supplier's stock valued at $5,297,000 after buying an additional 2,277 shares during the period. MidFirst Bank purchased a new position in shares of Insulet in the 4th quarter valued at about $394,000. Finally, Kera Capital Partners Inc. boosted its stake in shares of Insulet by 92.0% in the 4th quarter. Kera Capital Partners Inc. now owns 1,966 shares of the medical instruments supplier's stock valued at $559,000 after buying an additional 942 shares during the period.

Insulet Stock Up 0.1%

The firm has a 50 day moving average price of $232.25 and a 200-day moving average price of $279.24. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The firm has a market cap of $13.65 billion, a PE ratio of 56.33, a PEG ratio of 1.18 and a beta of 1.47.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. The business had revenue of $783.80 million during the quarter, compared to analysts' expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business's quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Research analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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