Insulet (NASDAQ:PODD) Price Target Raised to $322.00

Insulet (NASDAQ:PODD) had its target price lifted by Wells Fargo & Company from $305.00 to $322.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical instruments supplier’s stock.

Other equities analysts have also issued reports about the company. TD Cowen increased their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup increased their price target on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. 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 upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Morgan Stanley raised 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. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Stock Performance

Shares of PODD opened at $282.80 on Friday. The firm has a fifty day moving average of $272.98 and a 200-day moving average of $247.87. The company has a market cap 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 quick ratio of 2.80 and a current ratio of 3.68. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. As a group, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction 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 $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in shares of Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after acquiring an additional 79,982 shares in the last quarter. Geode Capital Management LLC boosted its stake in Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after purchasing an additional 40,566 shares during the period. Norges Bank purchased a new position in Insulet during the 4th quarter worth approximately $248,806,000. Artisan Partners Limited Partnership raised its stake in Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after purchasing an additional 163,388 shares in 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.