Insulet (NASDAQ:PODD) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Insulet (NASDAQ:PODD) in a report released on Wednesday morning, Marketbeat reports. The firm issued an outperform rating and a $300.00 target price on the medical instruments supplier’s stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Citigroup boosted their price target on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays lifted their price target on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. UBS Group increased their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, BTIG Research boosted their target price on Insulet from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.13.

Insulet Price Performance

Shares of NASDAQ PODD opened at $239.30 on Wednesday. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 4.43 and a beta of 1.22. 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 has a fifty-two week low of $151.56 and a fifty-two week high of $248.55. The firm’s 50-day simple moving average is $229.90 and its 200 day simple moving average is $202.95.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, research analysts anticipate that Insulet will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insulet

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Insulet during the 2nd quarter valued at about $32,000. UMB Bank n.a. lifted its position in Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 81 shares during the last quarter. Finally, CVA Family Office LLC grew its position in Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 145 shares during the last quarter.

About Insulet

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.