Insulet (NASDAQ:PODD) Earns Buy Rating from Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of Insulet (NASDAQ:PODD) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $380.00 price target on the medical instruments supplier’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 17.34% from the company’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barclays boosted their target price on Insulet from $234.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research report on Monday, April 28th. Raymond James reiterated an “outperform” rating and set a $360.00 price objective (up from $328.00) on shares of Insulet in a research note on Tuesday. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Insulet in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.78.

Insulet Stock Performance

Shares of PODD stock opened at $323.85 on Friday. Insulet has a 12 month low of $172.07 and a 12 month high of $329.33. The stock has a market cap of $22.79 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average price is $275.57 and its 200-day moving average price is $271.35.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $569.00 million for the quarter, compared to analysts’ expectations of $543.20 million. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities analysts expect that Insulet will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the business’s 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 completion of the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John W. Kapples sold 5,278 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now owns 23,180 shares of the company’s stock, valued at $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Institutional Trading of Insulet

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in Insulet in the 4th quarter valued at $36,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after buying an additional 1,942 shares in the last quarter. Jennison Associates LLC grew its holdings in Insulet by 21.8% in the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier’s stock valued at $41,338,000 after buying an additional 28,375 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Insulet by 4.3% in the 4th quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier’s stock valued at $633,000 after buying an additional 100 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Insulet in the 4th quarter valued at $9,822,000.

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.