Insulet (NASDAQ:PODD) Shares Up 10.7% After Analyst Upgrade

Shares of Insulet Co. (NASDAQ:PODD) shot up 10.7% during mid-day trading on Friday after BTIG Research raised their price target on the stock from $260.00 to $270.00. BTIG Research currently has a buy rating on the stock. Insulet traded as high as $275.00 and last traded at $271.23. 128,106 shares changed hands during trading, a decline of 83% from the average session volume of 775,372 shares. The stock had previously closed at $244.98.

A number of other analysts have also recently issued reports on PODD. Sanford C. Bernstein began coverage on Insulet in a report on Wednesday. They set an “outperform” rating and a $300.00 target price for the company. UBS Group increased their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Raymond James lifted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Piper Sandler increased their price target on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Barclays raised their price objective on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.80.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently modified their holdings of PODD. Diversified Trust Co increased its holdings in Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock valued at $1,842,000 after buying an additional 4,348 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Insulet by 349.3% during the 1st quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after acquiring an additional 22,993 shares in the last quarter. Intech Investment Management LLC lifted its stake in Insulet by 113.8% during the first quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock worth $1,140,000 after purchasing an additional 3,539 shares during the last quarter. Natixis acquired a new position in Insulet in the first quarter worth $3,610,000. Finally, Seven Eight Capital LP bought a new stake in Insulet during the first quarter valued at $1,418,000.

Insulet Stock Up 11.0 %

The stock’s fifty day simple moving average is $230.70 and its two-hundred day simple moving average is $203.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 4.47 and a beta of 1.22.

Insulet (NASDAQ:PODD) last issued its 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). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

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.