Canaccord Genuity Group Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its target price raised by Canaccord Genuity Group from $304.00 to $324.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Several other research firms have also weighed in on PODD. BTIG Research increased their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup boosted their price objective on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, TD Cowen boosted their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Down 1.9 %

Shares of NASDAQ:PODD opened at $282.80 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a 50 day moving average of $272.98 and a 200-day moving average of $247.11. Insulet has a one year low of $160.19 and a one year high of $289.46.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, sell-side analysts forecast that Insulet will post 3.92 earnings per share for the current year.

Insider Transactions at Insulet

In related news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insulet

Several institutional investors and hedge funds have recently modified their holdings of PODD. Norges Bank bought a new stake in Insulet in the 4th quarter valued at about $248,806,000. Baillie Gifford & Co. grew its position in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after buying an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC increased its stake in Insulet by 5,928.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares during the period. Raymond James Financial Inc. acquired a new position in Insulet in the 4th quarter valued at $69,433,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of Insulet during the 4th quarter valued at $53,184,000.

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.