Evercore ISI Begins Coverage on Insulet (NASDAQ:PODD)

Equities research analysts at Evercore ISI began coverage on shares of Insulet (NASDAQ:PODD) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $370.00 price target on the medical instruments supplier’s stock. Evercore ISI’s target price would indicate a potential upside of 27.78% from the stock’s current price.

A number of other research firms also recently weighed in on PODD. Oppenheimer raised their target price on shares of Insulet from $324.00 to $365.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. BTIG Research lifted their target price on Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Zacks Research upgraded Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Canaccord Genuity Group raised their price target on Insulet from $432.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $380.05.

Insulet Stock Up 0.3%

Shares of Insulet stock opened at $289.57 on Tuesday. The firm has a market cap of $20.37 billion, a PE ratio of 83.93, a P/E/G ratio of 2.03 and a beta of 1.37. The business’s 50 day simple moving average is $317.47 and its 200 day simple moving average is $314.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet has a 52-week low of $230.05 and a 52-week high of $354.88.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same quarter in the prior year, the firm posted $1.08 EPS. The business’s revenue was up 29.9% on a year-over-year basis. On average, analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insulet

A number of hedge funds and other institutional investors have recently bought and sold shares of PODD. True Wealth Design LLC raised its stake in Insulet by 288.0% in 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 during the period. Kozak & Associates Inc. acquired a new position in shares of Insulet during the 2nd quarter worth approximately $32,000. Golden State Wealth Management LLC increased its holdings in shares of Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after acquiring an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in Insulet in the 2nd quarter valued at $35,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 43 shares during the last quarter.

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.