Insulet (NASDAQ:PODD) Stock Price Expected to Rise, Barclays Analyst Says

Insulet (NASDAQ:PODD) had its price target lifted by analysts at Barclays from $220.00 to $234.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the medical instruments supplier’s stock. Barclays‘s target price indicates a potential downside of 14.94% from the stock’s current price.

A number of other research firms also recently weighed in on PODD. Piper Sandler increased their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Citigroup increased their price objective on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Canaccord Genuity Group boosted their target price on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BTIG Research increased their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Sanford C. Bernstein began coverage on Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.27.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $275.10 on Monday. The company has a market capitalization of $19.29 billion, a P/E ratio of 47.11, a price-to-earnings-growth ratio of 5.00 and a beta of 1.22. The company’s 50-day moving average is $234.83 and its 200 day moving average is $206.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. Insulet has a fifty-two week low of $156.00 and a fifty-two week high of $279.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in Insulet by 8.5% during the third quarter. Daiwa Securities Group Inc. now owns 12,378 shares of the medical instruments supplier’s stock worth $2,881,000 after buying an additional 973 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after acquiring an additional 163,388 shares during the last quarter. Swedbank AB grew its holdings in shares of Insulet by 3.2% during the third quarter. Swedbank AB now owns 21,232 shares of the medical instruments supplier’s stock worth $4,942,000 after purchasing an additional 655 shares in the last quarter. Algert Global LLC increased its position in shares of Insulet by 393.8% in the third quarter. Algert Global LLC now owns 11,131 shares of the medical instruments supplier’s stock worth $2,591,000 after purchasing an additional 8,877 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Insulet by 78.5% in the third quarter. Cerity Partners LLC now owns 10,193 shares of the medical instruments supplier’s stock worth $2,372,000 after purchasing an additional 4,484 shares during the last quarter.

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.