Insulet (NASDAQ:PODD) Given New $269.00 Price Target at Canaccord Genuity Group

Insulet (NASDAQ:PODD) had its price target increased by stock analysts at Canaccord Genuity Group from $236.00 to $269.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 12.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Redburn Atlantic initiated coverage on shares of Insulet in a research note on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective for the company. Piper Sandler lifted their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Barclays boosted their price target on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Finally, BTIG Research lowered their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.71.

Insulet Price Performance

Shares of NASDAQ PODD traded up $0.99 during trading hours on Wednesday, hitting $240.00. 73,648 shares of the stock were exchanged, compared to its average volume of 828,403. The company’s fifty day simple moving average is $204.43 and its two-hundred day simple moving average is $189.34. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. Insulet has a 1-year low of $125.82 and a 1-year high of $243.98. The company has a market cap of $16.83 billion, a PE ratio of 72.61, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. Insulet’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, sell-side analysts predict that Insulet will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PODD. International Assets Investment Management LLC purchased a new position in shares of Insulet in the 2nd quarter worth about $32,000. Sunbelt Securities Inc. purchased a new stake in Insulet in the first quarter worth approximately $29,000. UMB Bank n.a. grew its position in Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Insulet during the fourth quarter worth approximately $40,000. Finally, CVA Family Office LLC lifted its holdings in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after acquiring 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.