Insulet’s (PODD) “Hold” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Insulet (NASDAQ:PODD) in a research report released on Monday,Benzinga reports. Truist Financial currently has a $160.00 target price on the medical instruments supplier’s stock, up from their prior target price of $153.00.

Several other research firms have also recently issued reports on PODD. Raymond James Financial reissued an “outperform” rating and set a $180.00 target price on shares of Insulet in a research note on Thursday, August 6th. BTIG Research lowered Insulet from a “buy” rating to a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Insulet in a report on Monday, September 21st. Sanford C. Bernstein raised their price objective on Insulet from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Finally, Benchmark cut their price objective on Insulet from $250.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.67.

Insulet Stock Performance

NASDAQ:PODD opened at $150.03 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.51 and a quick ratio of 1.83. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.13 and a beta of 1.06. The company’s 50-day moving average is $142.08 and its two-hundred day moving average is $174.71. Insulet has a 1-year low of $126.40 and a 1-year high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, November 4th. The medical instruments supplier reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.40. The business had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $832.63 million. Insulet had a net margin of 13.44% and a return on equity of 31.76%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 EPS. Analysts forecast that Insulet will post 6.75 EPS for the current year.

Institutional Trading of Insulet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Insulet during the second quarter worth $1,018,582,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Insulet by 462.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,229,928 shares of the medical instruments supplier’s stock valued at $258,088,000 after buying an additional 1,011,369 shares in the last quarter. Man Group plc purchased a new stake in shares of Insulet in the 2nd quarter valued at $78,746,000. Amundi raised its holdings in shares of Insulet by 13.6% in the 2nd quarter. Amundi now owns 507,847 shares of the medical instruments supplier’s stock valued at $77,320,000 after buying an additional 60,929 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Insulet in the 2nd quarter valued at $64,921,000.

About Insulet

Insulet Corporation is a medical device company focused on insulin delivery for people with diabetes. Founded in 2000, the company developed the Omnipod platform, which delivers insulin through a small, wearable pod without the tubing used by many traditional insulin pumps. Its products include Omnipod DASH and Omnipod 5, an automated insulin delivery system that can adjust insulin delivery based on glucose readings from compatible continuous glucose monitors. Insulet also provides related controllers, mobile app features, supplies and customer support.