Insulet (NASDAQ:PODD) Price Target Raised to $260.00 at BTIG Research

Insulet (NASDAQ:PODD) had its price target boosted by BTIG Research from $250.00 to $260.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other analysts have also weighed in on PODD. Raymond James upped their target price on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler increased their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Canaccord Genuity Group raised their price objective on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Citigroup raised their price target on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.29.

Insulet Stock Down 0.6 %

Shares of PODD opened at $229.13 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The stock has a market capitalization of $16.05 billion, a PE ratio of 69.43, a P/E/G ratio of 4.34 and a beta of 1.21. The company’s 50-day simple moving average is $217.11 and its 200-day simple moving average is $196.34. Insulet has a 1 year low of $128.68 and a 1 year high of $243.98.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data 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 business posted $0.38 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts forecast that Insulet will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Insulet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Insulet in the first quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new stake in shares of Insulet during the 2nd quarter worth $32,000. UMB Bank n.a. grew its stake in shares of Insulet by 81.0% during the 2nd 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 during the period. CVA Family Office LLC increased its holdings in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 145 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Insulet by 159.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 156 shares during the period.

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.