Citigroup Increases Insulet (NASDAQ:PODD) Price Target to $355.00

Insulet (NASDAQ:PODD) had its price objective boosted by Citigroup from $310.00 to $355.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts have also commented on PODD. JPMorgan Chase & Co. increased their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Piper Sandler raised their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley boosted their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday. Finally, TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $282.80 on Friday. The business has a fifty day moving average of $272.98 and a 200-day moving average of $247.87. The firm has a market cap of $19.84 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, equities research analysts predict that Insulet will post 3.92 EPS for the current fiscal year.

Insider Transactions 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 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 approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents 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.

Hedge Funds Weigh In On Insulet

Several institutional investors and hedge funds have recently modified their holdings of PODD. QRG Capital Management Inc. bought a new position in Insulet in the third quarter valued at approximately $297,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Insulet by 30.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after acquiring an additional 1,942 shares during the period. Fisher Asset Management LLC lifted its position in Insulet by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after acquiring an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after purchasing an additional 3,623 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Insulet by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after purchasing an additional 8,301 shares in the last quarter.

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.