Insulet (NASDAQ:PODD) Reaches New 12-Month High After Analyst Upgrade

Insulet Co. (NASDAQ:PODD)’s share price hit a new 52-week high during mid-day trading on Saturday after Oppenheimer raised their price target on the stock from $312.00 to $324.00. Oppenheimer currently has an outperform rating on the stock. Insulet traded as high as $312.16 and last traded at $310.42, with a volume of 3214360 shares. The stock had previously closed at $257.00.

PODD has been the subject of several other reports. Citigroup boosted their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on shares of Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Stifel Nicolaus boosted their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.81.

Insider Activity at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insulet

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Insulet during the 4th quarter worth approximately $248,806,000. GAMMA Investing LLC grew its stake in shares of Insulet by 27,298.6% during the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock worth $1,744,100,000 after purchasing an additional 661,717 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Insulet during the 4th quarter worth approximately $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Insulet during the 4th quarter worth approximately $53,184,000. Finally, Vanguard Group Inc. grew its stake in shares of Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier’s stock worth $2,276,553,000 after purchasing an additional 178,976 shares during the period.

Insulet Stock Up 20.8%

The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 3.62 and a beta of 1.26. The business’s 50 day moving average price is $257.45 and its 200 day moving average price is $263.88. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (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 last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

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.