Insulet Co. (NASDAQ:PODD) Receives $242.29 Average Price Target from Analysts

Insulet Co. (NASDAQ:PODD) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $242.29.

PODD has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. UBS Group lifted their price target on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Citigroup increased their price target on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group boosted their price objective on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their target price on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Insulet Stock Performance

Shares of PODD stock opened at $241.32 on Wednesday. The stock has a market cap of $16.92 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 4.40 and a beta of 1.22. Insulet has a 52-week low of $151.56 and a 52-week high of $243.98. The business has a 50-day simple moving average of $228.23 and a 200-day simple moving average of $202.16. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts expect that Insulet will post 3.04 EPS for the current year.

Institutional Trading of Insulet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of Insulet in the second quarter valued at about $99,978,000. Baillie Gifford & Co. increased its holdings in shares of Insulet by 30.8% during the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after buying an additional 443,783 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Insulet by 206.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock valued at $73,632,000 after buying an additional 289,591 shares during the period. AMI Asset Management Corp acquired a new position in Insulet in the first quarter valued at approximately $37,211,000. Finally, Vanguard Group Inc. grew its position in Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares during the period.

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.