Insulet (NASDAQ:PODD) Given New $338.00 Price Target at Citigroup

Insulet (NASDAQ:PODD) had its price target lowered by research analysts at Citigroup from $345.00 to $338.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s price objective points to a potential upside of 41.58% from the stock’s current price.

Several other research firms have also weighed in on PODD. Canaccord Genuity Group reduced their price objective on shares of Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Leerink Partners decreased their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Truist Financial dropped their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Oppenheimer decreased their target price on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered their price target on Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $354.24.

Insulet Trading Up 0.2%

Shares of Insulet stock traded up $0.50 on Wednesday, hitting $238.74. 199,867 shares of the company’s stock traded hands, compared to its average volume of 1,013,032. The firm’s 50-day moving average price is $261.60 and its two-hundred day moving average price is $298.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock has a market capitalization of $16.81 billion, a PE ratio of 68.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. Insulet has a one year low of $233.29 and a one year high of $354.88.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the previous year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, research analysts expect that Insulet will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael R. Minogue purchased 2,030 shares of Insulet stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its position in Insulet by 114.6% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 47 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Insulet in the 4th quarter valued at about $26,000. Elyxium Wealth LLC bought a new position in shares of Insulet in the 4th quarter valued at about $28,000. DV Equities LLC acquired a new stake in shares of Insulet in the fourth quarter valued at about $28,000. Finally, MV Capital Management Inc. bought a new stake in Insulet during the fourth quarter worth about $29,000.

About Insulet

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.