Piper Sandler Raises Insulet (NASDAQ:PODD) Price Target to $310.00

Insulet (NASDAQ:PODD) had its price objective boosted by analysts at Piper Sandler from $285.00 to $310.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s target price would suggest a potential upside of 9.62% from the company’s previous close.

PODD has been the subject of several other research reports. Citigroup increased their target price on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein started coverage on shares of Insulet in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target for the company. Wells Fargo & Company increased their price target on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, TD Cowen increased their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Stock Down 1.9 %

NASDAQ PODD opened at $282.80 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm has a 50-day simple moving average of $272.98 and a 200 day simple moving average of $247.46. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The stock has a market cap of $19.84 billion, a PE ratio of 48.84, a PEG ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. On average, research analysts forecast that Insulet will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on 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 directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade 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.

Institutional Trading of Insulet

Several hedge funds have recently modified their holdings of PODD. Blue Trust Inc. grew its stake 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 valued at $30,000 after purchasing an additional 58 shares during the last quarter. Raymond James & Associates boosted its stake in Insulet by 3.8% in the third quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock valued at $8,718,000 after acquiring an additional 1,367 shares during the last quarter. Private Advisor Group LLC boosted its stake in Insulet by 131.8% in the third quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock valued at $1,719,000 after acquiring an additional 4,200 shares during the last quarter. Greenleaf Trust boosted its stake in Insulet by 4.2% in the third quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock valued at $415,000 after acquiring an additional 72 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Insulet by 23,175.0% in the third quarter. International Assets Investment Management LLC now owns 37,240 shares of the medical instruments supplier’s stock valued at $8,668,000 after acquiring an additional 37,080 shares during the last quarter.

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.