Insulet (NASDAQ:PODD) Price Target Raised to $260.00 at Raymond James

Insulet (NASDAQ:PODD) had its price target upped by Raymond James from $213.00 to $260.00 in a research report report published on Monday morning, Benzinga reports. They currently have an outperform rating on the medical instruments supplier’s stock.

Several other research analysts have also commented on the company. Citigroup boosted their price objective on Insulet from $250.00 to $275.00 and gave the stock a buy rating in a report on Tuesday, October 1st. Canaccord Genuity Group upped their target price on Insulet from $236.00 to $269.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. Barclays increased their price objective on Insulet from $200.00 to $220.00 and gave the company an equal weight rating in a research note on Monday, August 12th. BTIG Research dropped their price objective on Insulet from $270.00 to $250.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, UBS Group upped their target price on Insulet from $211.00 to $223.00 and gave the company a neutral rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Insulet currently has an average rating of Moderate Buy and a consensus price target of $238.40.

Insulet Trading Down 0.3 %

Shares of Insulet stock opened at $232.51 on Monday. Insulet has a 52-week low of $128.68 and a 52-week high of $243.98. The stock’s 50-day simple moving average is $215.04 and its 200 day simple moving average is $195.46. The stock has a market capitalization of $16.29 billion, a P/E ratio of 70.46, a P/E/G ratio of 4.34 and a beta of 1.21. 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 (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts anticipate that Insulet will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Insulet

Several large investors have recently modified their holdings of PODD. Vanguard Group Inc. increased its holdings in Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after buying an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after purchasing an additional 443,783 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Insulet by 6.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after purchasing an additional 75,526 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after purchasing an additional 33,579 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Insulet by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after acquiring an additional 139,246 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.