Insulet (NASDAQ:PODD) Price Target Raised to $450.00

Insulet (NASDAQ:PODD) had its target price hoisted by Canaccord Genuity Group from $432.00 to $450.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have a buy rating on the medical instruments supplier’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Insulet from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Rothschild & Co Redburn upped their price objective on shares of Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Barclays increased their price objective on shares of Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada boosted their target price on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Stifel Nicolaus initiated coverage on Insulet in a report on Tuesday, October 21st. They set a “buy” rating and a $370.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $379.00.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $289.62 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet has a 52 week low of $230.05 and a 52 week high of $354.88. The firm has a market cap of $20.37 billion, a PE ratio of 83.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.37. The firm’s fifty day moving average is $316.42 and its 200-day moving average is $313.77.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.11. The business had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.Insulet’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. Sell-side analysts predict that Insulet will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Insulet during the second quarter worth approximately $324,689,000. Qube Research & Technologies Ltd bought a new stake in Insulet during the 2nd quarter valued at $131,439,000. Worldquant Millennium Advisors LLC bought a new stake in Insulet during the 2nd quarter valued at $80,082,000. Squarepoint Ops LLC raised its holdings in Insulet by 11,905.8% during the third quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier’s stock worth $70,165,000 after buying an additional 225,377 shares during the last quarter. Finally, Munro Partners lifted its stake in shares of Insulet by 1,483.0% in the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after buying an additional 212,885 shares in the last quarter.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.