Insulet (NASDAQ:PODD) Lowered to Equal Weight Rating by Barclays

Insulet (NASDAQ:PODD) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Monday. They currently have a $274.00 price target on the medical instruments supplier’s stock. Barclays‘s target price would indicate a potential downside of 5.20% from the stock’s current price.

Other analysts have also issued reports about the stock. Cowen restated a “buy” rating on shares of Insulet in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Insulet in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Wolfe Research lifted their price target on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $365.00 price target on shares of Insulet in a research report on Friday. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $377.75.

Insulet Stock Performance

NASDAQ PODD opened at $289.04 on Monday. The company has a market capitalization of $20.33 billion, a P/E ratio of 83.78, a P/E/G ratio of 1.61 and a beta of 1.40. 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 company has a fifty day moving average of $306.95 and a 200-day moving average of $311.84.

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

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently modified their holdings of the company. True Wealth Design LLC increased its holdings in Insulet by 288.0% in the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 72 shares in the last quarter. Kozak & Associates Inc. purchased a new position in shares of Insulet during the second quarter valued at approximately $32,000. Golden State Wealth Management LLC boosted its holdings 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 worth $32,000 after purchasing an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Insulet in the 2nd quarter valued at about $35,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Insulet by 48.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 43 shares during 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.