TD Cowen Increases Insulet (NASDAQ:PODD) Price Target to $324.00

Insulet (NASDAQ:PODD) had its price target lifted by analysts at TD Cowen from $264.00 to $324.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. TD Cowen’s price objective indicates a potential upside of 22.90% from the stock’s current price.

Several other research analysts have also issued reports on the company. Barclays raised their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Canaccord Genuity Group upped their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. BTIG Research boosted their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.81.

Insulet Trading Up 2.6 %

NASDAQ:PODD traded up $6.77 during trading hours on Friday, hitting $263.62. 57,151 shares of the stock were exchanged, compared to its average volume of 285,654. The company has a market capitalization of $18.49 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $259.65 and its two-hundred day moving average is $227.28. Insulet has a twelve month low of $160.19 and a twelve month high of $279.77.

Insiders Place Their Bets

In other 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 transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. International Assets Investment Management LLC bought a new position in Insulet during the second quarter worth about $32,000. Venturi Wealth Management LLC raised its holdings 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 acquiring an additional 133 shares during the period. TD Private Client Wealth LLC boosted its stake in Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares during the period. Finally, Versant Capital Management Inc grew its stake in Insulet by 106.1% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after acquiring an additional 157 shares in the last quarter.

Insulet Company Profile

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.