Insulet (NASDAQ:PODD) Price Target Raised to $324.00

Insulet (NASDAQ:PODD) had its price target upped by Canaccord Genuity Group from $304.00 to $324.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 12.39% from the company’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays boosted their price objective 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, Sanford C. Bernstein started coverage on shares of Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.47.

Insulet Price Performance

PODD stock opened at $288.29 on Friday. Insulet has a 52 week low of $160.19 and a 52 week 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 firm’s fifty day moving average is $272.71 and its 200 day moving average is $246.47. The firm has a market cap of $20.22 billion, a P/E ratio of 49.36, a P/E/G ratio of 3.56 and a beta of 1.23.

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. Insulet had a return on equity of 27.98% and a net margin of 21.22%. Research analysts predict that Insulet will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of the 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 transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lauren Budden sold 915 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Several large investors have recently bought and sold shares of PODD. Blue Trust Inc. grew its position in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Raymond James & Associates grew its position in Insulet by 3.8% in the 3rd quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock valued at $8,718,000 after buying an additional 1,367 shares during the last quarter. Private Advisor Group LLC grew its position in Insulet by 131.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock valued at $1,719,000 after buying an additional 4,200 shares during the last quarter. Greenleaf Trust raised its stake in shares of Insulet by 4.2% during the 3rd quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock worth $415,000 after buying an additional 72 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Insulet by 23,175.0% in the third quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock valued at $8,668,000 after acquiring an additional 37,080 shares during the period.

Insulet Company Profile

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.