Insulet (NASDAQ:PODD) Hits New 52-Week High After Analyst Upgrade

Insulet Co. (NASDAQ:PODD)’s stock price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $280.00 to $330.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Insulet traded as high as $279.42 and last traded at $279.05, with a volume of 101802 shares. The stock had previously closed at $273.47.

Several other research analysts have also recently commented on the stock. Raymond James raised their target price on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price target on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group lifted their price objective on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup increased their target price on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Piper Sandler boosted their price target on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.44.

Insider Activity

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insulet

A number of hedge funds and other institutional investors have recently bought and sold shares of PODD. QRG Capital Management Inc. acquired a new stake in shares of Insulet during the third quarter valued at about $297,000. Fisher Asset Management LLC boosted its position in Insulet by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock worth $81,719,000 after buying an additional 3,113 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Insulet by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after acquiring an additional 8,301 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Insulet by 86.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after acquiring an additional 3,623 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Insulet in the 2nd quarter valued at approximately $554,000.

Insulet Price Performance

The stock has a market cap of $18.89 billion, a P/E ratio of 46.12, a P/E/G ratio of 4.18 and a beta of 1.21. The company’s 50 day moving average price is $251.37 and its 200-day moving average price is $220.02. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

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.