Insulet (NASDAQ:PODD) Reaches New 12-Month High – Still a Buy?

Shares of Insulet Co. (NASDAQ:PODD) reached a new 52-week high on Friday . The stock traded as high as $325.22 and last traded at $324.75, with a volume of 836387 shares traded. The stock had previously closed at $322.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PODD shares. Raymond James reaffirmed an “outperform” rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Citigroup lifted their price objective on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price for the company in a research report on Tuesday, May 13th. Finally, Oppenheimer raised their price target on shares of Insulet from $312.00 to $324.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average target price of $306.53.

Insulet Stock Performance

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 has a market capitalization of $22.85 billion, a PE ratio of 56.09, a PEG ratio of 3.62 and a beta of 1.26. The company has a 50-day moving average price of $264.14 and a two-hundred day moving average price of $266.69.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. During the same quarter in the previous year, the firm earned $0.73 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. Analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the sale, the senior vice president now owns 23,180 shares in the company, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. The trade was a 36.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently made changes to their positions in PODD. Norges Bank purchased a new stake in Insulet during the fourth quarter valued at about $248,806,000. GAMMA Investing LLC boosted its holdings in shares of Insulet by 27,298.6% in the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock worth $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter. American Century Companies Inc. increased its position in shares of Insulet by 34.8% during the 1st quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier’s stock valued at $302,686,000 after purchasing an additional 297,734 shares during the last quarter. Nuveen LLC purchased a new position in shares of Insulet during the 1st quarter valued at about $74,163,000. Finally, Raymond James Financial Inc. bought a new stake in Insulet in the 4th quarter worth approximately $69,433,000.

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.