Insulet (NASDAQ:PODD) Hits New 1-Year High After Analyst Upgrade

Shares of Insulet Co. (NASDAQ:PODD) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $280.00 to $330.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Insulet traded as high as $279.42 and last traded at $279.05, with a volume of 101802 shares trading hands. The stock had previously closed at $273.47.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein assumed coverage on shares of Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective for the company. Barclays boosted their target price on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Canaccord Genuity Group raised their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $267.44.

Insiders Place Their Bets

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp grew its position in shares of Insulet by 36.1% during the 3rd quarter. Synovus Financial Corp now owns 2,929 shares of the medical instruments supplier’s stock worth $682,000 after buying an additional 777 shares during the period. Tidal Investments LLC boosted its stake in Insulet by 5.2% during the 3rd quarter. Tidal Investments LLC now owns 9,365 shares of the medical instruments supplier’s stock worth $2,180,000 after acquiring an additional 466 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Insulet during the 3rd quarter worth approximately $114,000. Virtu Financial LLC acquired a new position in Insulet during the third quarter valued at approximately $616,000. Finally, TD Private Client Wealth LLC increased its stake in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter.

Insulet Trading Down 0.6 %

The company’s fifty day simple moving average is $250.58 and its two-hundred day simple moving average is $219.40. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 4.06 and a beta of 1.21. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

About Insulet

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.