Insulet (NASDAQ:PODD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Insulet (NASDAQ:PODD) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other brokerages have also recently weighed in on PODD. Morgan Stanley lifted their price target 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. Citigroup upped their price target on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group upped their price target on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen boosted their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $283.48 on Monday. The company has a market cap of $19.88 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. Insulet has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company has a 50-day simple moving average of $273.33 and a 200-day simple moving average of $248.46.

Insulet (NASDAQ:PODD) last released its 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 net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Insider Buying and Selling at Insulet

In other news, CAO Lauren Budden sold 915 shares of the company’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 transaction, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Insulet

A number of hedge funds have recently added to or reduced their stakes in PODD. Blue Trust Inc. increased its holdings 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 buying an additional 58 shares during the last quarter. Raymond James & Associates lifted its position in Insulet by 3.8% in the third quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock worth $8,718,000 after purchasing an additional 1,367 shares during the period. Private Advisor Group LLC lifted its position in Insulet by 131.8% in the third quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock worth $1,719,000 after purchasing an additional 4,200 shares during the period. International Assets Investment Management LLC lifted its position 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 worth $8,668,000 after purchasing an additional 37,080 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Insulet by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,810 shares of the medical instruments supplier’s stock worth $3,900,000 after acquiring an additional 1,712 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.