Insulet (NASDAQ:PODD) Sets New 12-Month High – Here’s What Happened

Insulet Co. (NASDAQ:PODD) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $287.00 and last traded at $281.67, with a volume of 28197 shares changing hands. The stock had previously closed at $278.48.

Analyst Upgrades and Downgrades

PODD has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Barclays lifted their price objective on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Raymond James increased their target price on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group upped their price target on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $272.81.

Insulet Stock Up 2.5 %

The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. The firm’s 50-day moving average is $269.18 and its 200 day moving average is $239.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The company had revenue of $543.90 million during the quarter, compared to the consensus estimate of $518.50 million. During the same quarter last year, the company earned $0.71 earnings per share. Sell-side analysts anticipate that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s 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. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Insulet

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Insulet by 633.3% in 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 during the last quarter. TD Private Client Wealth LLC boosted its position in Insulet by 32.6% during the third 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. Friedenthal Financial acquired a new stake in shares of Insulet in the fourth quarter valued at about $57,000. Finally, Versant Capital Management Inc increased its position in Insulet by 106.1% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after acquiring an additional 157 shares during the period.

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.