Truist Financial Lowers Insulet (NASDAQ:PODD) Price Target to $390.00

Insulet (NASDAQ:PODD) had its price objective cut by Truist Financial from $412.00 to $390.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s target price would indicate a potential upside of 31.17% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Cowen restated a “buy” rating on shares of Insulet in a report on Thursday, December 4th. Royal Bank Of Canada boosted their target price on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Stifel Nicolaus began coverage on Insulet in a report on Tuesday, October 21st. They issued a “buy” rating and a $370.00 target price for the company. Jefferies Financial Group lifted their price target on Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Barclays upped their price target on Insulet from $300.00 to $301.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

Insulet Price Performance

Shares of NASDAQ PODD traded up $7.76 during mid-day trading on Thursday, reaching $297.33. The company had a trading volume of 37,795 shares, compared to its average volume of 723,437. The company has a 50-day moving average price of $317.47 and a two-hundred day moving average price of $314.16. The stock has a market cap of $20.92 billion, a PE ratio of 85.92, a P/E/G ratio of 2.03 and a beta of 1.37. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. Insulet has a 1-year low of $230.05 and a 1-year high of $354.88.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.13 by $0.11. The business had revenue of $521.70 million during 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%.Insulet’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. On average, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Insulet

Large investors have recently bought and sold shares of the business. True Wealth Design LLC raised its holdings in Insulet by 288.0% during 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. bought a new position in shares of Insulet in the 2nd quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its holdings in Insulet by 202.9% in the 2nd 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 bought a new stake in Insulet during the second quarter worth approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. boosted 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 period.

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.