BTIG Research Boosts Insulet (NASDAQ:PODD) Price Target to $260.00

Insulet (NASDAQ:PODD) had its price objective lifted by BTIG Research from $250.00 to $260.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other brokerages also recently commented on PODD. Raymond James upped their target price on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays increased their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Piper Sandler lifted their target price on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. UBS Group increased their price target on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Citigroup lifted their price objective on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $242.29.

Insulet Trading Up 0.2 %

Shares of NASDAQ PODD opened at $230.60 on Monday. Insulet has a fifty-two week low of $128.68 and a fifty-two week high of $243.98. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 69.88, a PEG ratio of 4.34 and a beta of 1.21. The business’s 50 day moving average price is $216.52 and its 200-day moving average price is $196.12.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, sell-side analysts expect that Insulet will post 3.04 earnings per share for the current year.

Institutional Investors Weigh In On Insulet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in Insulet in the second quarter worth about $99,978,000. Baillie Gifford & Co. raised its position in shares of Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after purchasing an additional 443,783 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Insulet by 206.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock worth $73,632,000 after purchasing an additional 289,591 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Insulet by 462.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 299,654 shares of the medical instruments supplier’s stock worth $51,361,000 after purchasing an additional 246,364 shares during the last quarter. Finally, AMI Asset Management Corp acquired a new position in Insulet during the 1st quarter valued at approximately $37,211,000.

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.