Canaccord Genuity Group Raises Insulet (NASDAQ:PODD) Price Target to $324.00

Insulet (NASDAQ:PODD) had its price objective lifted by equities research analysts at Canaccord Genuity Group from $304.00 to $324.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 14.57% from the stock’s current price.

PODD has been the topic of a number of other research reports. TD Cowen boosted their price objective on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. BTIG Research lifted their target price on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. 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 report on Monday, November 11th. Finally, Citigroup lifted their target price on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Down 1.9 %

PODD stock opened at $282.80 on Friday. Insulet has a one year low of $160.19 and a one year high of $289.46. The stock has a market capitalization of $19.84 billion, a PE 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. The company has a fifty day moving average of $272.98 and a 200-day moving average of $247.46.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. As a group, analysts expect that Insulet will post 3.92 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC increased its holdings in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after acquiring an additional 43 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of Insulet by 2.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after acquiring an additional 47 shares during the period. Finally, Graypoint LLC increased its holdings in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after acquiring an additional 47 shares during the period.

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.