Insulet (NASDAQ:PODD) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Insulet (NASDAQ:PODD) from a hold rating to a buy rating in a research note published on Monday morning.

PODD has been the subject of several other reports. Barclays upped their target price on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. BTIG Research boosted their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Canaccord Genuity Group upped their target price on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Insulet Trading Up 1.5 %

Shares of Insulet stock opened at $270.64 on Monday. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market capitalization of $18.98 billion, a P/E ratio of 46.74, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a fifty day moving average of $273.69 and a 200 day moving average of $249.20.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. On average, sell-side analysts anticipate that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on 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 owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC raised its position in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after buying an additional 43 shares during the last quarter. Glenmede Trust Co. NA increased its position in Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after purchasing an additional 47 shares in the last quarter. Finally, Graypoint LLC grew its holdings in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 47 shares in the last quarter.

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.