Insulet’s (PODD) Outperform Rating Reiterated at Raymond James

Insulet (NASDAQ:PODD)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $328.00 target price on the medical instruments supplier’s stock, up from their previous target price of $294.00. Raymond James’ price target would indicate a potential upside of 15.98% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus increased their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Canaccord Genuity Group increased their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Sanford C. Bernstein initiated coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average target price of $289.06.

Insulet Price Performance

Shares of Insulet stock opened at $282.80 on Friday. Insulet has a one year low of $160.19 and a one year high of $289.46. The stock’s fifty day moving average is $272.98 and its 200 day moving average is $247.46. The stock has a market cap of $19.84 billion, a P/E ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

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

Insider Buying and Selling

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

Institutional Trading of Insulet

Several institutional investors have recently added to or reduced their stakes in the company. American Trust bought a new stake in Insulet in the fourth quarter worth about $210,000. Mackenzie Financial Corp lifted its stake in Insulet by 7.0% in the fourth quarter. Mackenzie Financial Corp now owns 7,561 shares of the medical instruments supplier’s stock worth $1,974,000 after purchasing an additional 493 shares during the last quarter. Peak Retirement Planning Inc. bought a new stake in Insulet in the fourth quarter worth about $1,063,000. Toronto Dominion Bank lifted its stake in Insulet by 55.2% in the fourth quarter. Toronto Dominion Bank now owns 36,486 shares of the medical instruments supplier’s stock worth $9,526,000 after purchasing an additional 12,984 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Insulet in the fourth quarter worth about $439,000.

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.