Raymond James Reaffirms Outperform Rating for Insulet (NASDAQ:PODD)

Insulet (NASDAQ:PODD)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James in a research note issued on Friday,Benzinga reports. They currently have a $328.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $294.00. Raymond James’ target price points to a potential upside of 15.98% from the stock’s previous close.

Several other analysts also recently weighed in on PODD. Piper Sandler upped their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday. BTIG Research upped their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Sanford C. Bernstein assumed coverage on Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to 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 fifty-two week low of $160.19 and a fifty-two week high of $289.46. The business’s 50 day moving average price is $272.98 and its two-hundred day moving average price is $247.46. 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 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.

Insulet (NASDAQ:PODD) last posted its earnings results 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 return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. As a group, analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the 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 transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Trust bought a new position in shares of Insulet during the 4th quarter valued at $210,000. Mackenzie Financial Corp lifted its holdings in shares of Insulet by 7.0% during the 4th quarter. Mackenzie Financial Corp now owns 7,561 shares of the medical instruments supplier’s stock valued at $1,974,000 after buying an additional 493 shares during the period. Peak Retirement Planning Inc. bought a new position in Insulet in the 4th quarter worth $1,063,000. Toronto Dominion Bank raised its holdings in Insulet by 55.2% in the 4th quarter. Toronto Dominion Bank now owns 36,486 shares of the medical instruments supplier’s stock worth $9,526,000 after purchasing an additional 12,984 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Insulet in the 4th quarter worth $439,000.

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.