Insulet (NASDAQ:PODD) Given “Buy” Rating at Citigroup

Insulet (NASDAQ:PODD)‘s stock had its “buy” rating restated by stock analysts at Citigroup in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $380.00 price target on the medical instruments supplier’s stock, up from their previous price target of $320.00. Citigroup’s price objective points to a potential upside of 18.38% from the stock’s current price.

Several other analysts also recently commented on PODD. Piper Sandler increased their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Stifel Nicolaus increased their price target on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada assumed coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target for the company. Barclays increased their price target on shares of Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group increased their price target on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $308.00.

Insulet Stock Performance

Shares of PODD stock opened at $321.00 on Thursday. The firm has a 50-day moving average of $269.92 and a 200-day moving average of $268.95. The company has a market cap of $22.59 billion, a P/E ratio of 55.44, a P/E/G ratio of 3.62 and a beta of 1.26. 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 has a one year low of $170.67 and a one year high of $329.33.

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

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president now owns 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10% decrease in their ownership of the stock. 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 large investors have recently modified their holdings of PODD. Larson Financial Group LLC boosted its position in shares of Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Insulet in the first quarter valued at approximately $26,000. SouthState Corp boosted its position in shares of Insulet by 253.3% in the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 76 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Insulet in the fourth quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Insulet in the fourth quarter valued at approximately $42,000.

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.