Insulet Corporation (PODD) is Reiterated by Wedbush to Outperform, Raises Price Target to $ 48

Insulet Corporation (PODD) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $44 . Wedbush advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Insulet Corporation reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $87.33 million for the quarter, compared to analysts expectations of $83.00 million. The company’s revenue was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.30 EPS.

Insulet Corporation closed down -0.08 points or -0.23% at $35.3 with 3,69,194 shares getting traded on Tusday. Post opening the session at $35.25, the shares hit an intraday low of $34.93 and an intraday high of $35.56 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on May 27, 2016, Regina O Sommer (director) sold 8,019 shares at $30.42 per share price. According to the SEC, on May 19, 2016, Patrick J Sullivan (CEO) purchased 45,000 shares at $26.98 per share price. On May 16, 2016, Bradley A Thomas (EVP Human Resources) purchased 2,975 shares at $26.63 per share price, according to the Form-4 filing with the securities and exchange commission.

Insulet Corporation is a medical device company engaged in the development manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System) an insulin infusion system for people with insulin-dependent diabetes. The Company’s principal offices are located in Billerica Massachusetts. Features of the OmniPod System include two-part design no tubing and automated cannula insertion. The OmniPod System consists of two devices that communicate wirelessly: the OmniPod a small lightweight disposable insulin infusion device worn beneath clothing; and the PDM a handheld device much like a personal digital assistant that wirelessly programs the OmniPod with insulin delivery instructions. The OmniPod will operate up to 72 hours (but no more than 80 hours) after it is first activated. The OmniPod System does not have external tubing and features an automated hands-free cannula insertion system.

Insulet Corporation

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