Analysts Set Insulet Corporation (NASDAQ:PODD) Target Price at $379.65

Shares of Insulet Corporation (NASDAQ:PODD) have received an average rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $379.65.

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Insulet from a “neutral” rating to a “buy” rating and increased their target price for the stock from $355.00 to $400.00 in a report on Wednesday, November 19th. Leerink Partners lifted their price objective on Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Canaccord Genuity Group upped their target price on Insulet from $428.00 to $432.00 and gave the company a “buy” rating in a report on Monday, November 24th. The Goldman Sachs Group lifted their price target on shares of Insulet from $375.00 to $388.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Truist Financial upped their price objective on shares of Insulet from $390.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, November 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Insulet in the 1st quarter worth about $26,000. SouthState Corp boosted its stake in Insulet by 253.3% during the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. True Wealth Design LLC boosted its stake in Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 72 shares in the last quarter. Kozak & Associates Inc. purchased a new stake in Insulet in the second quarter worth about $32,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 69 shares in the last quarter.

Insulet Stock Performance

NASDAQ PODD opened at $295.19 on Thursday. The company has a 50-day simple moving average of $319.51 and a two-hundred day simple moving average of $315.28. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. Insulet has a 12-month low of $230.05 and a 12-month high of $354.88. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 85.56, a PEG ratio of 2.07 and a beta of 1.37.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.13 by $0.11. The firm had revenue of $521.70 million for the quarter, compared to the consensus estimate of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, equities analysts forecast that Insulet will post 3.92 EPS for the current year.

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.