Truist Financial Has Lowered Expectations for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price objective dropped by Truist Financial from $360.00 to $315.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s target price points to a potential upside of 56.34% from the company’s current price.

PODD has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Citigroup lowered Insulet from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $338.00 to $230.00 in a research report on Tuesday, April 7th. Oppenheimer dropped their price target on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Sanford C. Bernstein decreased their target price on Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Finally, UBS Group reissued a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $334.38.

Insulet Stock Performance

Insulet stock opened at $201.49 on Wednesday. The firm has a market capitalization of $13.96 billion, a P/E ratio of 57.57, a P/E/G ratio of 1.18 and a beta of 1.47. The stock has a fifty day moving average price of $230.08 and a two-hundred day moving average price of $277.53. Insulet has a 52-week low of $194.61 and a 52-week high of $354.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15.

Insulet (NASDAQ:PODD) last issued its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. As a group, analysts anticipate that Insulet will post 3.92 EPS for the current fiscal year.

Insider Transactions at Insulet

In other news, Director Michael R. Minogue acquired 2,030 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its stake in Insulet by 488.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,343 shares of the medical instruments supplier’s stock valued at $950,000 after acquiring an additional 2,775 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Insulet by 35.0% in the 4th quarter. Corient Private Wealth LLC now owns 14,595 shares of the medical instruments supplier’s stock valued at $4,160,000 after purchasing an additional 3,782 shares in the last quarter. Sit Investment Associates Inc. increased its stake in shares of Insulet by 13.9% in the 4th quarter. Sit Investment Associates Inc. now owns 18,634 shares of the medical instruments supplier’s stock valued at $5,297,000 after purchasing an additional 2,277 shares during the last quarter. MidFirst Bank bought a new position in shares of Insulet in the 4th quarter valued at $394,000. Finally, Kera Capital Partners Inc. raised its holdings in shares of Insulet by 92.0% during the 4th quarter. Kera Capital Partners Inc. now owns 1,966 shares of the medical instruments supplier’s stock worth $559,000 after buying an additional 942 shares in the last quarter.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.