Insulet Co. (NASDAQ:PODD) Receives $292.06 Average Price Target from Brokerages

Shares of Insulet Co. (NASDAQ:PODD) have been given an average rating of “Moderate Buy” by the seventeen research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $292.06.

A number of research firms have recently commented on PODD. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a report on Monday. Royal Bank of Canada began coverage on Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price for the company. Wolfe Research cut Insulet from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Piper Sandler increased their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus boosted their target price on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st.

Insider Activity at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet 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 sale, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insulet

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Insulet in the 3rd quarter worth $616,000. Wilmington Savings Fund Society FSB bought a new stake in Insulet in the 3rd quarter worth approximately $114,000. Tidal Investments LLC increased its position in Insulet by 5.2% in the third quarter. Tidal Investments LLC now owns 9,365 shares of the medical instruments supplier’s stock worth $2,180,000 after purchasing an additional 466 shares during the last quarter. Synovus Financial Corp raised its stake in Insulet by 36.1% during the third quarter. Synovus Financial Corp now owns 2,929 shares of the medical instruments supplier’s stock valued at $682,000 after purchasing an additional 777 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Insulet during the third quarter valued at $202,000.

Insulet Stock Down 3.2 %

PODD stock opened at $251.27 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average of $258.98 and a 200 day moving average of $262.02. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The firm has a market cap of $17.65 billion, a PE ratio of 43.40, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30.

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

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.