Insulet (NASDAQ:PODD) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Insulet (NASDAQ:PODD) from a buy rating to a hold rating in a research note released on Tuesday.

Other analysts also recently issued reports about the company. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wells Fargo & Company boosted their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup boosted their target price on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James reissued an “outperform” rating and issued a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, Sanford C. Bernstein began coverage on Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insulet Stock Down 4.1 %

Shares of NASDAQ PODD opened at $259.67 on Tuesday. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 44.85, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The business has a 50-day moving average of $274.48 and a two-hundred day moving average of $251.93. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This trade represents 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 firm’s stock in a transaction that occurred on 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 directly owns 5,733 shares of the company’s stock, valued at $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.

Hedge Funds Weigh In On Insulet

Several hedge funds have recently bought and sold shares of PODD. US Bancorp DE increased its stake in Insulet by 1.6% in the 3rd quarter. US Bancorp DE now owns 14,347 shares of the medical instruments supplier’s stock valued at $3,339,000 after purchasing an additional 227 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Insulet by 7.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock valued at $1,318,000 after buying an additional 394 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Insulet by 12.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,290 shares of the medical instruments supplier’s stock valued at $533,000 after buying an additional 261 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Insulet during the 3rd quarter valued at $297,000. Finally, Graypoint LLC acquired a new stake in Insulet during the 3rd quarter valued at $206,000.

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.