TD Cowen Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD) had its price target upped by TD Cowen from $264.00 to $324.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other equities analysts have also issued reports on PODD. Citigroup boosted their price target on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price target on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. boosted their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $272.81.

Insulet Price Performance

Shares of PODD opened at $266.30 on Friday. Insulet has a 52-week low of $160.19 and a 52-week high of $279.77. 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 business’s 50 day moving average price is $260.30 and its two-hundred day moving average price is $228.20. The firm has a market cap of $18.68 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21.

Insider Buying and Selling

In other Insulet news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Insulet by 633.3% in 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 during the last quarter. International Assets Investment Management LLC purchased a new position in Insulet in the second quarter worth $32,000. TD Private Client Wealth LLC boosted its position in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 157 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.