Wells Fargo & Company Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD) had its price objective upped by stock analysts at Wells Fargo & Company from $305.00 to $322.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 13.86% from the stock’s current price.

Several other analysts have also commented on the company. Citigroup raised their price objective on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley raised their price objective on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Canaccord Genuity Group raised their price objective on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday. Sanford C. Bernstein started coverage on Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective on the stock. Finally, BTIG Research raised their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Down 1.9 %

Insulet stock opened at $282.80 on Friday. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. Insulet has a 52 week low of $160.19 and a 52 week high of $289.46. The business’s 50-day moving average price is $272.98 and its 200 day moving average price is $247.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

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

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction 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 sale, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after purchasing an additional 79,982 shares during the period. Geode Capital Management LLC raised its position in Insulet by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock valued at $463,347,000 after purchasing an additional 40,566 shares during the period. Norges Bank purchased a new stake in Insulet in the fourth quarter valued at $248,806,000. Artisan Partners Limited Partnership raised its position in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after purchasing an additional 163,388 shares during the period.

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.