Insulet (NASDAQ:PODD) Stock Rating Upgraded by Wolfe Research

Insulet (NASDAQ:PODD) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Tuesday, MarketBeat reports. The brokerage presently has a $200.00 target price on the medical instruments supplier’s stock. Wolfe Research’s price objective points to a potential upside of 13.91% from the company’s current price.

A number of other research firms also recently issued reports on PODD. Piper Sandler reduced their price target on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Barclays decreased their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Stifel Nicolaus upped their target price on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. raised their price target on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insulet Stock Down 4.7 %

Insulet stock opened at $175.57 on Tuesday. The stock’s 50 day moving average price is $170.32 and its 200 day moving average price is $181.66. Insulet has a 1-year low of $125.82 and a 1-year high of $331.65. The company has a market cap of $12.29 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping the consensus estimate of $0.67 by $0.73. The company had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business’s revenue was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, sell-side analysts predict that Insulet will post 3.08 EPS for the current fiscal year.

Insider Activity at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the transaction, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Insulet by 18.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,024 shares of the medical instruments supplier’s stock valued at $482,000 after purchasing an additional 466 shares in the last quarter. Raymond James & Associates lifted its position in Insulet by 3.8% during the third quarter. Raymond James & Associates now owns 56,215 shares of the medical instruments supplier’s stock valued at $8,966,000 after buying an additional 2,041 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Insulet during the third quarter worth approximately $2,363,000. Forsta AP Fonden increased its position in shares of Insulet by 2.7% in the third quarter. Forsta AP Fonden now owns 15,300 shares of the medical instruments supplier’s stock worth $2,440,000 after acquiring an additional 400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Insulet by 9.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,637 shares of the medical instruments supplier’s stock valued at $2,334,000 after acquiring an additional 1,289 shares during the period.

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.