Insulet (NASDAQ:PODD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Insulet (NASDAQ:PODD) had its price objective boosted by Wells Fargo & Company from $305.00 to $322.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

PODD has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Canaccord Genuity Group upped their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday. Barclays upped their price objective on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BTIG Research upped their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Sanford C. Bernstein initiated coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Insulet has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Stock Down 1.9 %

PODD opened at $282.80 on Friday. The company has a market cap of $19.84 billion, a P/E ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23. Insulet has a 12 month low of $160.19 and a 12 month high of $289.46. The business’s 50-day moving average price is $272.98 and its 200-day moving average price is $247.11. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

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

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following 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 position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Insulet in the 4th quarter worth about $248,806,000. Baillie Gifford & Co. raised its holdings in Insulet by 20.7% in 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 during the last quarter. Mizuho Securities USA LLC raised its holdings in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Insulet in the fourth quarter worth about $69,433,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in Insulet in the 4th quarter worth approximately $53,184,000.

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.