Insulet (NASDAQ:PODD) Upgraded to Outperform at Wolfe Research

Wolfe Research upgraded shares of Insulet (NASDAQ:PODD) from a peer perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $350.00 price objective on the medical instruments supplier’s stock.

Several other research analysts also recently commented on PODD. StockNews.com downgraded Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler increased their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Oppenheimer increased their price objective on Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price for the company. Finally, Stifel Nicolaus raised their target price on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.53.

Insulet Trading Down 0.7%

Insulet stock opened at $314.46 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet has a 12 month low of $160.19 and a 12 month high of $323.00. The stock’s 50 day simple moving average is $259.46 and its two-hundred day simple moving average is $264.81. The firm has a market cap of $22.13 billion, a PE ratio of 54.31, a P/E/G ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue was up 28.8% on a year-over-year basis. Analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PODD. Norges Bank acquired a new position in Insulet during the fourth quarter worth approximately $248,806,000. GAMMA Investing LLC increased its position in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock worth $1,744,100,000 after buying an additional 661,717 shares during the period. American Century Companies Inc. increased its position in Insulet by 34.8% during the first quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier’s stock worth $302,686,000 after buying an additional 297,734 shares during the period. Nuveen LLC acquired a new position in Insulet during the first quarter worth approximately $74,163,000. Finally, Raymond James Financial Inc. acquired a new position in Insulet during the fourth quarter worth approximately $69,433,000.

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.