Insulet (NASDAQ:PODD) Price Target Raised to $310.00 at Piper Sandler

Insulet (NASDAQ:PODD) had its price objective boosted by Piper Sandler from $285.00 to $310.00 in a report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

A number of other analysts have also weighed in on PODD. Wells Fargo & Company upped their target price on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein started coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price for the company. BTIG Research increased their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barclays raised their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Morgan Stanley upped their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Down 1.9 %

Shares of PODD opened at $282.80 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. Insulet has a 52-week low of $160.19 and a 52-week high of $289.46. The stock has a fifty day simple moving average of $272.98 and a two-hundred day simple moving average of $247.87. The company has a market capitalization 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.

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

Insider Activity at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,470,320.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PODD. Blue Trust Inc. grew its stake in shares of Insulet by 84.1% during 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 period. Raymond James & Associates grew its position in Insulet by 3.8% during the third quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock worth $8,718,000 after buying an additional 1,367 shares during the period. Private Advisor Group LLC increased its holdings 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 valued at $1,719,000 after buying an additional 4,200 shares in the last quarter. Greenleaf Trust lifted its position in shares of Insulet by 4.2% during the 3rd quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock valued at $415,000 after acquiring an additional 72 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Insulet by 23,175.0% during the 3rd quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock worth $8,668,000 after acquiring an additional 37,080 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.