Insulet (NASDAQ:PODD) Given New $355.00 Price Target at Citigroup

Insulet (NASDAQ:PODD) had its price target increased by equities researchers at Citigroup from $310.00 to $355.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s target price suggests a potential upside of 26.80% from the company’s previous close.

PODD has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Raymond James reaffirmed an “outperform” rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research note on Friday. TD Cowen increased their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays increased their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler increased their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday. Three investment 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.com, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Insulet Price Performance

Shares of NASDAQ:PODD traded down $8.32 during trading on Friday, reaching $279.97. The company had a trading volume of 725,388 shares, compared to its average volume of 552,959. The company has a fifty day moving average of $272.71 and a two-hundred day moving average of $246.47. The stock has a market capitalization of $19.64 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 3.56 and a beta of 1.23. Insulet has a 12 month low of $160.19 and a 12 month high of $289.46. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. Equities research analysts forecast that Insulet will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value 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 $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Insulet by 633.3% during 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. SBI Securities Co. Ltd. bought a new stake in Insulet during the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. bought a new stake in Insulet during the 4th quarter valued at about $42,000. Finally, SRS Capital Advisors Inc. increased its stake in Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after purchasing an additional 56 shares in the last quarter.

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.