Insulet Co. (NASDAQ:PODD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Insulet Co. (NASDAQ:PODD) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $292.06.

Several brokerages have commented on PODD. Raymond James reaffirmed an “outperform” rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. TD Cowen raised their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Canaccord Genuity Group upped their price objective on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock.

Insulet Stock Performance

PODD stock opened at $269.13 on Friday. 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 firm has a market cap of $18.90 billion, a PE ratio of 46.48, a P/E/G ratio of 3.62 and a beta of 1.29. The business has a 50 day moving average of $270.97 and a 200-day moving average of $259.47. Insulet has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data 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 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. As a group, sell-side analysts expect that Insulet will post 3.92 earnings per share for the current year.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated 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 completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Insulet in the fourth quarter worth $248,806,000. Raymond James Financial Inc. purchased a new position in shares of Insulet in the 4th quarter worth about $69,433,000. Alecta Tjanstepension Omsesidigt bought a new position in shares of Insulet during the 4th quarter valued at about $53,184,000. Artisan Partners Limited Partnership raised its holdings in shares of Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after buying an additional 149,524 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after buying an additional 125,710 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.