Insulet (NASDAQ:PODD) Stock Price Expected to Rise, Oppenheimer Analyst Says

Insulet (NASDAQ:PODD) had its price objective hoisted by equities research analysts at Oppenheimer from $312.00 to $324.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Oppenheimer’s target price indicates a potential upside of 4.37% from the company’s previous close.

Several other brokerages also recently commented on PODD. Raymond James reiterated an “outperform” rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Wolfe Research downgraded shares of Insulet from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 29th. Piper Sandler boosted their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays increased their price objective on shares of Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus boosted their price target on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.81.

Insulet Trading Up 20.8 %

Shares of PODD opened at $310.42 on Friday. Insulet has a twelve month low of $160.19 and a twelve month high of $312.16. The firm has a market capitalization of $21.84 billion, a P/E ratio of 53.61, 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 stock’s fifty day simple moving average is $257.45 and its 200 day simple moving average is $263.70.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.21. The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Insulet’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts forecast that Insulet will post 3.92 earnings per share for the current year.

Insider Activity at Insulet

In related 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 value of $501,875.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PODD. SBI Securities Co. Ltd. acquired a new stake in Insulet during the 4th quarter worth about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Insulet by 30.1% during the fourth 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 purchasing an additional 1,942 shares in the last quarter. Ayrshire Capital Management LLC increased its stake in Insulet by 34.6% in the 4th quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier’s stock valued at $6,001,000 after buying an additional 5,911 shares during the period. Jennison Associates LLC lifted its position in Insulet by 21.8% in the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier’s stock worth $41,338,000 after buying an additional 28,375 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Insulet during the 4th quarter valued at $1,234,000.

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.