Canaccord Genuity Group Raises Insulet (NASDAQ:PODD) Price Target to $269.00

Insulet (NASDAQ:PODD) had its price objective boosted by Canaccord Genuity Group from $236.00 to $269.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts have also issued reports on PODD. UBS Group raised their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a neutral rating in a research report on Friday, August 9th. BTIG Research lowered their price objective on shares of Insulet from $270.00 to $250.00 and set a buy rating on the stock in a research report on Friday, August 9th. Redburn Atlantic assumed coverage on shares of Insulet in a report on Thursday, May 30th. They issued a buy rating and a $235.00 target price for the company. OTR Global reissued a mixed rating on shares of Insulet in a report on Monday, June 10th. Finally, Barclays upped their price objective on Insulet from $200.00 to $220.00 and gave the company an equal weight rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insulet currently has a consensus rating of Moderate Buy and a consensus target price of $231.71.

Insulet Stock Performance

NASDAQ:PODD opened at $232.03 on Wednesday. The firm has a market capitalization of $16.27 billion, a PE ratio of 70.31, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The business’s fifty day moving average price is $206.81 and its 200 day moving average price is $190.36. Insulet has a 12 month low of $125.82 and a 12 month high of $243.98.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Insulet will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Insulet

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Insulet during the 2nd quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in Insulet during the first quarter worth $29,000. UMB Bank n.a. boosted its position in Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 81 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Insulet in the fourth quarter valued at $40,000. Finally, CVA Family Office LLC increased its position in shares of Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 145 shares in the last quarter.

About Insulet

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.