Insulet (NASDAQ:PODD) Price Target Raised to $220.00

Insulet (NASDAQ:PODD) had its price target upped by equities research analysts at Barclays from $200.00 to $220.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the medical instruments supplier’s stock. Barclays‘s target price would suggest a potential upside of 13.06% from the company’s previous close.

PODD has been the topic of a number of other research reports. Redburn Atlantic initiated coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. Jefferies Financial Group increased their target price on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. OTR Global reissued a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Tuesday, May 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $234.00 target price on shares of Insulet in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.13.

Insulet Price Performance

PODD opened at $194.59 on Monday. Insulet has a fifty-two week low of $125.82 and a fifty-two week high of $227.55. The firm has a 50-day moving average of $196.65 and a 200 day moving average of $183.70. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The firm has a market cap of $13.63 billion, a P/E ratio of 58.97, a PEG ratio of 3.53 and a beta of 1.16.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. On average, research analysts expect that Insulet will post 3.11 EPS for the current year.

Insider Buying and Selling

In other news, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the completion of the sale, the senior vice president now owns 12,875 shares in the company, valued at approximately $2,574,485. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Mark N. Field sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the sale, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at $2,574,485. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total transaction of $596,970.00. Following the sale, the director now owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Insulet during the 1st quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in Insulet during the second quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. bought a new position in Insulet during the fourth quarter valued at approximately $34,000. UMB Bank n.a. raised its stake in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Insulet in the 4th quarter worth approximately $40,000.

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.