Insulet (NASDAQ:PODD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Insulet (NASDAQ:PODD) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $280.00 to $330.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 22.52% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday. Sanford C. Bernstein began coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective for the company. Morgan Stanley increased their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Piper Sandler lifted their price target 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. Finally, Raymond James lifted 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.44.

Insulet Trading Down 0.9 %

PODD opened at $269.34 on Thursday. Insulet has a 52 week low of $160.19 and a 52 week high of $279.77. The business has a fifty day simple moving average of $251.37 and a 200-day simple moving average of $220.02. The firm has a market cap of $18.89 billion, a P/E ratio of 46.12, a P/E/G ratio of 4.18 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.

Insider Buying and Selling

In related 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 transaction of $252,192.30. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. purchased a new stake in Insulet in the 3rd quarter valued at about $297,000. Assenagon Asset Management S.A. grew its holdings in Insulet by 38.8% in the second quarter. Assenagon Asset Management S.A. now owns 179,393 shares of the medical instruments supplier’s stock valued at $36,202,000 after purchasing an additional 50,101 shares during the period. Fisher Asset Management LLC grew its holdings in Insulet by 0.9% in the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after purchasing an additional 3,113 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Insulet by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after buying an additional 8,301 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in Insulet by 86.2% during the third quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after buying an additional 3,623 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.