Insulet (NASDAQ:PODD) Reaches New 52-Week Low Following Analyst Downgrade

Key Points

• Insulet hit a new 52-week low after Evercore cut its price target from $340 to $240; the stock traded as low as $198.10 and last around $201.09.
• Analysts remain largely positive — 19 Buys, 4 Holds and 1 Sell — giving a collective "Moderate Buy" and an average target of $344.33, well above the current share price.
• Fundamentals showed strength: Insulet beat Q1 estimates (EPS $1.55 vs. $1.48) with revenue of $783.8M (+31.2% YoY), and a company director bought 2,030 shares at an average $246.23.

Insulet Corporation (NASDAQ:PODD - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday after Evercore lowered their price target on the stock from $340.00 to $240.00. Evercore currently has an outperform rating on the stock. Insulet traded as low as $198.10 and last traded at $201.0860, with a volume of 20680 shares trading hands. The stock had previously closed at $203.50.

A number of other equities analysts have also issued reports on the stock. UBS Group restated a "buy" rating on shares of Insulet in a research report on Thursday, December 18th. Barclays reiterated an "underweight" rating and issued a $286.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Raymond James Financial lowered their price objective on shares of Insulet from $385.00 to $355.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Sanford C. Bernstein lowered their price objective on shares of Insulet from $380.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group lowered their price objective on shares of Insulet from $363.00 to $326.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $344.33.

Insider Buying and Selling

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Insulet by 114.6% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier's stock worth $25,000 after buying an additional 47 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Insulet during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Insulet during the 4th quarter worth $28,000. DV Equities LLC acquired a new position in shares of Insulet during the 4th quarter worth $28,000. Finally, MV Capital Management Inc. acquired a new position in shares of Insulet during the 4th quarter worth $29,000.

Insulet Stock Down 0.7%

The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 58.08, a P/E/G ratio of 1.22 and a beta of 1.47. 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 50 day moving average price of $236.88 and a 200-day moving average price of $282.89.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.