Insulet (NASDAQ:PODD) Shares Up 10.7% After Analyst Upgrade

Insulet Co. (NASDAQ:PODD) shares shot up 10.7% during trading on Friday after BTIG Research raised their price target on the stock from $260.00 to $270.00. BTIG Research currently has a buy rating on the stock. Insulet traded as high as $275.00 and last traded at $271.23. 128,106 shares were traded during mid-day trading, a decline of 83% from the average session volume of 775,372 shares. The stock had previously closed at $244.98.

PODD has been the subject of a number of other reports. Citigroup boosted their target price on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Piper Sandler boosted their price objective on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. UBS Group increased their target price on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Barclays lifted their price target on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday. They set an “outperform” rating and a $300.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $246.80.

Institutional Trading of Insulet

Several large investors have recently added to or reduced their stakes in PODD. Blue Trust Inc. lifted its holdings in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Insulet in the 2nd quarter valued at $32,000. UMB Bank n.a. increased its stake in shares of Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares during the period. Finally, CVA Family Office LLC raised its holdings in shares of Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 145 shares during the last quarter.

Insulet Stock Up 9.4 %

The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 48.73, a P/E/G ratio of 4.47 and a beta of 1.22. The business’s 50-day moving average is $232.01 and its 200-day moving average is $204.22.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. As a group, equities analysts predict that Insulet Co. will post 3.04 earnings per share for the current year.

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.