Insulet Corporation (NASDAQ:PODD) Given Average Recommendation of “Moderate Buy” by Brokerages

Insulet Corporation (NASDAQ:PODD) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $379.65.

Several brokerages have issued reports on PODD. JPMorgan Chase & Co. upped their target price on Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, September 12th. UBS Group raised shares of Insulet from a “neutral” rating to a “buy” rating and boosted their price target for the company from $355.00 to $400.00 in a research report on Wednesday, November 19th. Truist Financial raised their price objective on shares of Insulet from $390.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Insulet in a research note on Friday, November 21st. Finally, Piper Sandler boosted their target price on shares of Insulet from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th.

Insulet Stock Down 2.7%

PODD stock opened at $296.19 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average of $320.02 and a two-hundred day moving average of $315.62. Insulet has a 12 month low of $230.05 and a 12 month high of $354.88. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 85.85, a PEG ratio of 2.14 and a beta of 1.37.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year. As a group, analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sage Mountain Advisors LLC raised its position in Insulet by 4.6% in the third quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $229,000 after purchasing an additional 33 shares during the period. Glenmede Investment Management LP increased its position in shares of Insulet by 1.6% during the 3rd quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier’s stock worth $708,000 after purchasing an additional 35 shares during the last quarter. Curi Capital LLC raised its holdings in Insulet by 0.8% in the 2nd quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after buying an additional 36 shares during the period. WINTON GROUP Ltd raised its holdings in Insulet by 0.9% in the 3rd quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock valued at $1,261,000 after buying an additional 37 shares during the period. Finally, Evelyn Partners Investment Management Services Ltd lifted its position in Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after buying an additional 39 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.