Insulet (NASDAQ:PODD) Now Covered by Analysts at Royal Bank of Canada

Analysts at Royal Bank of Canada initiated coverage on shares of Insulet (NASDAQ:PODD) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $340.00 price target on the medical instruments supplier’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 25.55% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus upped their price objective on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Barclays upped their price objective on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. TD Cowen upped their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley increased their target price on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Price Performance

Shares of NASDAQ PODD opened at $270.81 on Thursday. The firm has a market capitalization of $19.02 billion, a P/E ratio of 46.77, a P/E/G ratio of 3.62 and a beta of 1.29. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $274.48 and its two-hundred day simple moving average is $251.93. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46.

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

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODD. Venturi Wealth Management LLC increased its position in Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Insulet during the 4th quarter valued at approximately $36,000. Itau Unibanco Holding S.A. bought a new position in Insulet during the 4th quarter valued at approximately $42,000. SRS Capital Advisors Inc. increased its position in Insulet by 43.1% during 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 in the last quarter. Finally, TD Private Client Wealth LLC increased its position in Insulet by 32.6% during 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 in 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.