TD Cowen Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price target increased by TD Cowen from $264.00 to $324.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other analysts have also recently commented on PODD. BTIG Research raised their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler raised their target price on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Raymond James upped their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group increased their price target on shares of Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Barclays boosted their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.81.

Insulet Stock Up 3.7 %

Shares of NASDAQ:PODD opened at $266.30 on Friday. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $279.77. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm’s 50-day simple moving average is $260.30 and its 200-day simple moving average is $227.75. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 4.12 and a beta of 1.21.

Insider Transactions at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its stake in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Insulet in the second quarter valued at $32,000. 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 during the last quarter. Finally, Versant Capital Management Inc lifted its position in Insulet by 106.1% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after buying an additional 157 shares during the period.

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.