Insulet (NASDAQ:PODD) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Insulet (NASDAQ:PODD) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other analysts have also issued reports on PODD. Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a research note on Friday, May 16th. Royal Bank of Canada began coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. Piper Sandler raised their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Stifel Nicolaus upped their target price on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company set a $322.00 price target on shares of Insulet in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.41.

Insulet Stock Up 0.2%

Shares of NASDAQ PODD opened at $324.50 on Friday. The firm has a market cap of $22.84 billion, a P/E ratio of 56.05, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet has a 1 year low of $172.07 and a 1 year high of $329.33. The firm’s 50 day moving average price is $276.61 and its 200 day moving average price is $271.78.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.21. The company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. As a group, sell-side analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Insider Buying and Selling at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the transaction, the senior vice president now owns 23,180 shares of the company’s stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently modified their holdings of PODD. Strs Ohio acquired a new position in Insulet in the 1st quarter valued at $1,004,000. Acadian Asset Management LLC boosted its holdings in Insulet by 374.1% during the first quarter. Acadian Asset Management LLC now owns 54,456 shares of the medical instruments supplier’s stock valued at $14,295,000 after acquiring an additional 42,969 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Insulet by 17.9% in the first quarter. Geneos Wealth Management Inc. now owns 35,518 shares of the medical instruments supplier’s stock valued at $9,327,000 after purchasing an additional 5,392 shares during the last quarter. Bayforest Capital Ltd increased its stake in shares of Insulet by 106.8% in the first quarter. Bayforest Capital Ltd now owns 608 shares of the medical instruments supplier’s stock worth $160,000 after purchasing an additional 314 shares during the period. Finally, MBB Public Markets I LLC bought a new position in shares of Insulet in the first quarter worth about $322,000.

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.