Insulet (NASDAQ:PODD) PT Raised to $285.00 at Piper Sandler

Insulet (NASDAQ:PODD) had its price target raised by investment analysts at Piper Sandler from $230.00 to $285.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s target price suggests a potential upside of 20.71% from the company’s current price.

PODD has been the topic of several other research reports. Barclays increased their price target on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. OTR Global restated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. BTIG Research dropped their price target on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Redburn Atlantic began coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price objective for the company. Finally, UBS Group increased their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.21.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $236.11 on Tuesday. The business has a fifty day simple moving average of $200.74 and a 200-day simple moving average of $186.98. Insulet has a 52 week low of $125.82 and a 52 week high of $243.98. The company has a market cap of $16.55 billion, a P/E ratio of 71.55, a P/E/G ratio of 4.31 and a beta of 1.21. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Insulet will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Insulet

A number of large investors have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new position in Insulet during the first quarter worth $29,000. International Assets Investment Management LLC acquired a new position in shares of Insulet during the 2nd quarter worth about $32,000. UMB Bank n.a. raised its holdings in shares of Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Insulet in the 4th quarter valued at about $40,000. Finally, CVA Family Office LLC lifted its stake in Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 145 shares during the last quarter.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.