Citigroup Increases Insulet (NASDAQ:PODD) Price Target to $310.00

Insulet (NASDAQ:PODD) had its target price hoisted by stock analysts at Citigroup from $283.00 to $310.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s target price suggests a potential upside of 14.08% from the company’s previous close.

PODD has been the subject of several other reports. Morgan Stanley raised their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their price objective on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Raymond James lifted their price objective on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, BTIG Research lifted their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $267.44.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $271.73 on Wednesday. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 4.06 and a beta of 1.21. The company has a 50-day moving average price of $250.58 and a 200-day moving average price of $219.40. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet has a 12 month low of $160.19 and a 12 month high of $279.77.

Insider Buying and Selling

In other news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insulet

A number of institutional investors and hedge funds have recently made changes to their positions in PODD. Blue Trust Inc. raised its stake in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC raised its stake in Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the period. International Assets Investment Management LLC bought a new stake in Insulet during the 2nd quarter worth approximately $32,000. UMB Bank n.a. raised its stake in Insulet by 81.0% during the 2nd 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, TD Private Client Wealth LLC raised its stake in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 56 shares during the period.

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.