Insulet (NASDAQ:PODD) Shares Gap Down – What’s Next?

Insulet Co. (NASDAQ:PODD)’s share price gapped down before the market opened on Friday . The stock had previously closed at $288.29, but opened at $276.35. Insulet shares last traded at $282.42, with a volume of 298,425 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen upped their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. BTIG Research upped their target price on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Morgan Stanley upped their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Barclays upped their target price on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Stock Performance

The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average is $272.98 and its two-hundred day moving average is $247.46.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Large investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Insulet in the 4th quarter valued at about $36,000. Venturi Wealth Management LLC raised 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 purchasing an additional 133 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Insulet in the 4th quarter valued at about $42,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after purchasing 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.