Stifel Nicolaus Boosts Insulet (NASDAQ:PODD) Price Target to $293.00

Insulet (NASDAQ:PODD) had its price target hoisted by equities research analysts at Stifel Nicolaus from $245.00 to $293.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 3.61% from the stock’s current price.

Several other brokerages have also recently commented on PODD. Morgan Stanley increased their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Barclays increased their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Finally, Canaccord Genuity Group upped their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Performance

Shares of PODD opened at $282.80 on Friday. Insulet has a 12 month low of $160.19 and a 12 month high of $289.46. The firm has a fifty day simple moving average of $272.98 and a 200 day simple moving average of $247.46. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 48.84, a PEG 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.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping 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. Research analysts forecast that Insulet will post 3.92 EPS for the current fiscal year.

Insider Activity

In related news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now 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. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several institutional investors and hedge funds have recently modified their holdings of PODD. Norges Bank acquired a new position in shares of Insulet in the fourth quarter valued at about $248,806,000. Baillie Gifford & Co. grew its stake in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after buying an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Insulet by 5,928.1% during the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Insulet during the fourth quarter worth about $69,433,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in Insulet during the fourth quarter worth about $53,184,000.

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.