Insulet (NASDAQ:PODD) Price Target Raised to $310.00 at Piper Sandler

Insulet (NASDAQ:PODD) had its target price lifted by Piper Sandler from $285.00 to $310.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

Several other research analysts have also recently weighed in on PODD. Citigroup boosted their price objective on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. BTIG Research upped their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley raised their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their price objective on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $289.06.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $282.80 on Friday. The business has a fifty day moving average of $272.98 and a 200-day moving average of $247.11. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The firm has a market cap of $19.84 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23.

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

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % 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.

Institutional Investors Weigh In On Insulet

Several large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after purchasing an additional 79,982 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Insulet by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after buying an additional 40,566 shares in the last quarter. Norges Bank bought a new position in shares of Insulet during the fourth quarter worth about $248,806,000. Artisan Partners Limited Partnership raised its position in Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after buying an additional 149,524 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after acquiring an additional 163,388 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.