Insulet (NASDAQ:PODD) Price Target Raised to $293.00

Insulet (NASDAQ:PODD) had its price objective boosted by Stifel Nicolaus from $245.00 to $293.00 in a research note published on Friday morning,Benzinga reports. They currently have a hold rating on the medical instruments supplier’s stock.

A number of other brokerages have also weighed in on PODD. BTIG Research raised their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. TD Cowen raised their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Barclays lifted their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Trading Down 1.9 %

Shares of NASDAQ:PODD opened at $282.80 on Friday. The business’s 50 day moving average price is $272.98 and its 200-day moving average price is $247.87. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. On average, equities research analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction that occurred 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 directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Insulet during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. acquired a new stake in Insulet in the 4th quarter valued at approximately $42,000. Finally, SRS Capital Advisors Inc. raised its position in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after purchasing an additional 56 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.