Insulet (NASDAQ:PODD) PT Raised to $260.00 at BTIG Research

Insulet (NASDAQ:PODD) had its target price increased by investment analysts at BTIG Research from $250.00 to $260.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price target suggests a potential upside of 12.66% from the stock’s previous close.

PODD has been the subject of several other research reports. Citigroup increased their price objective on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group raised their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Canaccord Genuity Group increased their target price on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler boosted their price target on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Finally, Barclays raised their price objective on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus price target of $238.40.

Insulet Price Performance

Shares of PODD stock traded down $2.32 during trading hours on Monday, reaching $230.78. The company’s stock had a trading volume of 134,760 shares, compared to its average volume of 803,445. Insulet has a fifty-two week low of $128.68 and a fifty-two week high of $243.98. The firm’s 50 day simple moving average is $214.20 and its 200-day simple moving average is $195.03. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of 69.93, a PEG ratio of 4.34 and a beta of 1.21.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. Sell-side analysts forecast that Insulet will post 3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PODD. V Square Quantitative Management LLC grew its stake in shares of Insulet by 18.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,850 shares of the medical instruments supplier’s stock valued at $401,000 after buying an additional 289 shares during the period. American Trust bought a new stake in shares of Insulet during the fourth quarter valued at approximately $211,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Insulet during the fourth quarter worth approximately $6,136,000. Syon Capital LLC bought a new position in shares of Insulet in the 4th quarter worth $288,000. Finally, Congress Asset Management Co. MA grew its position in Insulet by 100.7% in the 4th quarter. Congress Asset Management Co. MA now owns 30,169 shares of the medical instruments supplier’s stock valued at $6,546,000 after purchasing an additional 15,134 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.