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

Insulet (NASDAQ:PODD) had its price objective raised by Citigroup from $283.00 to $310.00 in a report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms also recently issued reports on PODD. BTIG Research lifted their price objective on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Piper Sandler increased their price objective on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group lifted their target price on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Morgan Stanley increased their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.44.

Insulet Price Performance

PODD stock opened at $269.34 on Wednesday. The stock has a market cap of $18.89 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 4.18 and a beta of 1.21. The stock has a 50-day moving average price of $251.37 and a two-hundred day moving average price of $220.02. Insulet has a 1 year low of $160.19 and a 1 year high of $279.77. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction dated 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 owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

A number of large investors have recently bought and sold shares of PODD. Blue Trust Inc. boosted its position 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 acquiring an additional 58 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Insulet during the second quarter worth $32,000. Venturi Wealth Management LLC boosted its holdings in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Insulet during the 2nd quarter worth $52,000.

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.