Insulet (NASDAQ:PODD) Reaches New 52-Week High – Here’s What Happened

Insulet Co. (NASDAQ:PODD) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $287.00 and last traded at $281.67, with a volume of 28197 shares. The stock had previously closed at $278.48.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. BTIG Research upped their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted 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. TD Cowen upped their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group boosted their price target on shares of Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $277.13.

Insulet Trading Up 1.0 %

The business’s 50-day simple moving average is $269.95 and its two-hundred day simple moving average is $240.32. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 3.49 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.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The firm had revenue of $543.90 million during the quarter, compared to the consensus estimate of $518.50 million. During the same quarter last year, the firm earned $0.71 EPS. Equities analysts forecast that Insulet Co. will post 3.22 earnings per share for the current year.

Insider Activity

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, 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. Insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

A number of hedge funds and other institutional investors have recently bought and sold shares of PODD. Integrated Wealth Concepts LLC grew its position in shares of Insulet by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after buying an additional 42 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after acquiring an additional 43 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after purchasing an additional 47 shares during the last quarter. Graypoint LLC increased its position in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 47 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 47 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.