Insulet (NASDAQ:PODD) Price Target Raised to $324.00 at Canaccord Genuity Group

Insulet (NASDAQ:PODD) had its price objective increased by Canaccord Genuity Group from $304.00 to $324.00 in a research note published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also recently weighed in on PODD. TD Cowen boosted their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research increased their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Sanford C. Bernstein assumed coverage on shares of Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Trading Down 1.9 %

Shares of PODD stock opened at $282.80 on Friday. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock’s fifty day moving average price is $272.98 and its two-hundred day moving average price is $247.11. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market cap of $19.84 billion, a PE ratio of 48.84, a P/E/G ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last issued 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. The firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Equities analysts predict that Insulet will post 3.92 EPS for the current fiscal year.

Insider Transactions at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 in the company, 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. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC grew its stake in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Insulet during the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of Insulet during the fourth quarter worth approximately $42,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares in the last quarter.

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.