Insulet (NASDAQ:PODD) Price Target Raised to $310.00

Insulet (NASDAQ:PODD) had its target price hoisted by Piper Sandler from $285.00 to $310.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

PODD has been the subject of a number of other research reports. Sanford C. Bernstein started coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price for the company. 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 report on Thursday, December 12th. Wells Fargo & Company raised their price objective on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays upped their target price on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Morgan Stanley increased their price target on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Stock Down 1.9 %

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

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

Insider Buying and Selling at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction that occurred 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 directly owns 5,733 shares of the company’s stock, 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

Institutional investors have recently made changes to their positions in the company. American Trust acquired a new stake in Insulet during the fourth quarter valued at $210,000. Mackenzie Financial Corp boosted its stake 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 worth $1,974,000 after acquiring an additional 493 shares in the last quarter. Peak Retirement Planning Inc. purchased a new position in shares of Insulet in the 4th quarter valued at about $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. acquired a new position in Insulet in the 4th quarter worth about $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.