Insulet (NASDAQ:PODD) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Insulet (NASDAQ:PODD) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $234.00 price objective on the medical instruments supplier’s stock.

PODD has been the topic of a number of other research reports. Wolfe Research raised shares of Insulet from a peer perform rating to an outperform rating and set a $200.00 price target on the stock in a research note on Tuesday, May 7th. Raymond James cut their price target on shares of Insulet from $218.00 to $213.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Redburn Atlantic initiated coverage on shares of Insulet in a research note on Thursday, May 30th. They issued a buy rating and a $235.00 target price on the stock. Barclays cut their target price on shares of Insulet from $213.00 to $200.00 and set an equal weight rating on the stock in a research note on Monday, May 13th. Finally, OTR Global reissued a mixed rating on shares of Insulet in a research note on Monday, June 10th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Insulet presently has an average rating of Moderate Buy and a consensus price target of $239.18.

Insulet Stock Performance

Shares of PODD opened at $193.30 on Tuesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 58.58, a PEG ratio of 3.50 and a beta of 1.16. The company’s 50 day simple moving average is $193.24 and its 200 day simple moving average is $184.74. Insulet has a 1 year low of $125.82 and a 1 year high of $283.00.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.34. The business had revenue of $441.70 million for the quarter, compared to the consensus estimate of $424.05 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, sell-side analysts predict that Insulet will post 3.11 EPS for the current year.

Insider Activity at Insulet

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Insulet news, SVP Mark N. Field sold 2,131 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $190.43, for a total transaction of $405,806.33. Following the completion of the transaction, the senior vice president now directly owns 14,375 shares of the company’s stock, valued at approximately $2,737,431.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The disclosure for this sale can be found here. In the last three months, insiders sold 13,931 shares of company stock valued at $2,636,286. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in shares of Insulet by 19.7% in the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after buying an additional 1,556,455 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after buying an additional 169,506 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after buying an additional 443,783 shares during the period. Norges Bank acquired a new position in shares of Insulet in the 4th quarter valued at about $227,655,000. Finally, William Blair Investment Management LLC lifted its position in Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after purchasing an additional 33,579 shares during the last quarter.

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.