Insulet (NASDAQ:PODD) Price Target Raised to $324.00

Insulet (NASDAQ:PODD) had its target price boosted by TD Cowen from $264.00 to $324.00 in a report released on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on PODD. Wells Fargo & Company increased their price objective on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research raised their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays raised their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.81.

Insulet Stock Up 3.7 %

PODD stock opened at $266.30 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 4.12 and a beta of 1.21. The business’s fifty day moving average price is $260.30 and its two-hundred day moving average price is $228.20. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $279.77.

Insider Activity

In other news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated 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 directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Insulet in the second quarter worth approximately $32,000. Venturi Wealth Management LLC lifted its stake in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 56 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after acquiring an additional 157 shares during the period.

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.