Citigroup Boosts Insulet (NASDAQ:PODD) Price Target to $355.00

Insulet (NASDAQ:PODD) had its price target raised by Citigroup from $310.00 to $355.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts have also issued research reports about the stock. Barclays upped their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. BTIG Research boosted their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus lifted their target price on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $289.06.

Insulet Price Performance

Shares of Insulet stock opened at $282.80 on Friday. The company 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 quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $272.98 and its 200-day simple moving average is $247.11. Insulet has a 52 week low of $160.19 and a 52 week high of $289.46.

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

Insider Transactions at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Insulet in the 4th quarter valued at $248,806,000. Baillie Gifford & Co. boosted its stake in shares of Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after purchasing an additional 320,416 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Insulet in the 4th quarter worth about $69,433,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in Insulet during the 4th quarter valued at 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.