Analyst Cuts Insulet as Payments Names Win Upgrades

Analysts shifted stances across several sectors on August 6, with a downgrade hitting medical device maker PODD while payments and industrial names picked up fresh support.

Insulet Corporation was downgraded by consensus, with the average target price slipping to $197.68 from $200.39. The $11.6 billion insulin pump maker has 6.6% of its free float short. Bears may be circling after the rating cut.

In payments, Corpay was the standout winner. The consensus target jumped to $425.43 from $396.21 — a $29 move. That's a nearly 7.4% target price increase. The $25.9 billion fintech also saw Global Payments upgraded outright. Its target rose to $100.46 from $96.70.

Roper Technologies saw its consensus rating upgraded. The $38.8 billion industrial software firm now carries an average target of $440.25.

eBay earned a target hike to $113.02 from $110.29. Motorola Solutions also got a bump, with its consensus target lifted to $515.73 from $507.

The session's clearest trend: analysts favour payments and diversified industrials. Medical devices face more caution heading into August.