Northland Securities Sticks to Its Hold Rating for Insulet Corp (PODD)

By Ryan Adsit

In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Insulet Corp (PODDResearch Report), with a price target of $100. The company’s shares closed on Friday at $111.41, close to its 52-week high of $114.63.

Kalia noted:

“We are downgrading Perform, & maintain $100 PT. Our downgrade is simply a valuation call. With the stock is trading @ 11x revenues & no major catalyst short-term, we believe it is prudent to move aside. Management is to be commended for delivering results; and slight revenue beats over the next few quarters (FY19 guidance of $667 – $690M), we believe are already baked into the stock.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 10.9% and a 59.8% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.

Insulet Corp has an analyst consensus of Moderate Buy, with a price target consensus of $104.60.

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The company has a one-year high of $114.63 and a one-year low of $70.80. Currently, Insulet Corp has an average volume of 643.8K.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock.

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Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in 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 Acton, MA.