Insulet (NASDAQ:PODD) Shares Gap Down – What’s Next?

Insulet Co. (NASDAQ:PODD) gapped down before the market opened on Friday . The stock had previously closed at $288.29, but opened at $276.35. Insulet shares last traded at $282.42, with a volume of 298,425 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PODD. Barclays raised their target price on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Citigroup raised their target price on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Sanford C. Bernstein initiated coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price on the stock. Finally, BTIG Research lifted their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Stock Down 1.9 %

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 business has a fifty day simple moving average of $272.98 and a two-hundred day simple moving average of $247.46. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Equities analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s 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 transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren Budden sold 915 shares of the business’s 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 directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PODD. Blue Trust Inc. raised its position in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Venturi Wealth Management LLC raised its position in Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Insulet in the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. bought a new position in Insulet in the 4th quarter worth approximately $42,000. Finally, SRS Capital Advisors Inc. raised its position in Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during 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.