Insulet (NASDAQ:PODD) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Insulet (NASDAQ:PODD) in a research note released on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $340.00 price target on the medical instruments supplier’s stock.

A number of other equities analysts have also commented on PODD. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted 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. Canaccord Genuity Group increased their price objective on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Piper Sandler raised their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Barclays upped their target price on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Stock Down 3.0 %

Shares of PODD stock opened at $251.81 on Thursday. The stock’s 50 day simple moving average is $274.09 and its 200 day simple moving average is $252.86. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. 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 $17.68 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 3.62 and a beta of 1.29.

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

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This 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.

Hedge Funds Weigh In On Insulet

Institutional investors and hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC lifted its position in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Insulet in the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. acquired a new position in Insulet during the 4th quarter worth $42,000. SRS Capital Advisors Inc. boosted its position in Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after buying an additional 56 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 56 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.