Insulet (NASDAQ:PODD) Price Target Cut to $250.00

Insulet (NASDAQ:PODD) had its price objective cut by equities research analysts at BTIG Research from $270.00 to $250.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price target would suggest a potential upside of 37.22% from the stock’s previous close.

PODD has been the topic of several other research reports. UBS Group raised their price target on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Tuesday, May 7th. Raymond James decreased their price target on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Finally, Redburn Atlantic started coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.88.

Insulet Stock Performance

Insulet stock traded down $17.60 during trading hours on Friday, hitting $182.19. 2,129,777 shares of the stock traded hands, compared to its average volume of 672,840. Insulet has a 1 year low of $125.82 and a 1 year high of $239.70. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 55.21, a P/E/G ratio of 3.53 and a beta of 1.16. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The firm’s 50 day moving average price is $196.26 and its 200-day moving average price is $183.90.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Insulet had a net margin of 13.14% and a return on equity of 34.06%. The business had revenue of $488.50 million for the quarter, compared to analyst estimates of $488.00 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Insulet will post 3.11 EPS for the current fiscal year.

Insider Activity

In other Insulet news, Director Timothy J. Scannell sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Insulet news, Director Timothy J. Scannell sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total transaction of $596,970.00. Following the transaction, the director now directly owns 42,586 shares in the company, valued at $7,703,807.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy J. Scannell sold 7,000 shares of Insulet stock in a transaction on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now directly owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The disclosure for this sale can be found here. Insiders have sold a total of 13,931 shares of company stock valued at $2,636,286 in the last quarter. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new position in Insulet in the first quarter valued at $29,000. International Assets Investment Management LLC purchased a new position in shares of Insulet in the 2nd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Insulet during the fourth quarter worth about $34,000. UMB Bank n.a. increased its stake in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 81 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in Insulet in the fourth quarter worth approximately $40,000.

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.