Insulet (NASDAQ:PODD) Sets New 12-Month High – Still a Buy?

Insulet Co. (NASDAQ:PODD) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $282.86 and last traded at $279.51, with a volume of 68735 shares changing hands. The stock had previously closed at $275.81.

Analyst Ratings Changes

A number of analysts have weighed in on PODD shares. Raymond James increased their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group raised their price target on shares of Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Morgan Stanley raised their target price 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, BTIG Research lifted their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.81.

Insulet Trading Up 1.0 %

The company has a 50-day moving average price of $266.52 and a 200 day moving average price of $234.38. The stock has a market capitalization of $19.56 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 3.47 and a beta of 1.22. 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, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The business had revenue of $543.90 million during the quarter, compared to the consensus estimate of $518.50 million. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts forecast that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Insulet

Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. increased 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 purchasing an additional 389,639 shares during the period. Geode Capital Management LLC grew its holdings in shares of Insulet by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after purchasing an additional 22,850 shares in the last quarter. Clearbridge Investments LLC increased its stake in Insulet by 6.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after buying an additional 75,526 shares during the period. Westfield Capital Management Co. LP increased its stake in 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 worth $175,697,000 after buying an additional 163,388 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after buying an additional 193,839 shares in 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.