Canaccord Genuity Keeps Their Hold Rating on Insulet Corp

By Ryan Adsit

Canaccord Genuity analyst Kyle Rose reiterated a Hold rating on Insulet Corp (NASDAQ: PODD) yesterday and set a price target of $42. The company’s shares closed yesterday at $42.70.

According to, Rose is a 3-star analyst with an average return of 3.8% and a 47.9% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Zeltiq Aesthetics.

Insulet Corp has an analyst consensus of Moderate Buy, with a price target consensus of $48.78.

Based on Insulet Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $102 million and GAAP net loss of $9.98 million. In comparison, last year the company earned revenue of $81.21 million and had a GAAP net loss of $13.75 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PODD in relation to earlier this year. Earlier this month, Jessica Hopfield, a Director at PODD bought 2,580 shares for a total of $99,769.

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Insulet Corp. is an innovative medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It’s current product offering consists of diabetes supplies, including the OmniPod System as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals. The company was founded by John L. Brooks III and John T. Garibotto in July 2000 and is headquartered in Billerica, MA.