Insulet (NASDAQ:PODD) Upgraded to Buy at StockNews.com

Insulet (NASDAQ:PODD) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities analysts also recently weighed in on PODD. Barclays upped their target price on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus increased their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday. Citigroup boosted their price target on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday. Raymond James reiterated an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a report on Friday. Finally, Piper Sandler lifted their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Price Performance

Shares of NASDAQ PODD traded up $0.68 during mid-day trading on Monday, reaching $283.48. The company had a trading volume of 864,954 shares, compared to its average volume of 582,464. The company has a 50-day moving average price of $273.33 and a two-hundred day moving average price of $248.46. The stock has a market cap of $19.88 billion, a PE ratio of 48.96, a P/E/G ratio of 3.62 and a beta of 1.23. 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 has a 1-year low of $160.19 and a 1-year high of $289.46.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share 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 analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insulet

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Insulet by 84.1% in the third 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. Raymond James & Associates increased its holdings in Insulet by 3.8% in the 3rd quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock valued at $8,718,000 after buying an additional 1,367 shares during the period. Private Advisor Group LLC raised its stake in shares of Insulet by 131.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock valued at $1,719,000 after buying an additional 4,200 shares in the last quarter. International Assets Investment Management LLC grew its position in Insulet by 23,175.0% in the third quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock valued at $8,668,000 after acquiring an additional 37,080 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Insulet by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,810 shares of the medical instruments supplier’s stock worth $3,900,000 after acquiring an additional 1,712 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.