Insulet (NASDAQ:PODD) Price Target Raised to $322.00 at Wells Fargo & Company

Insulet (NASDAQ:PODD) had its price target hoisted by research analysts at Wells Fargo & Company from $305.00 to $322.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.06% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. TD Cowen raised their target price on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. BTIG Research boosted their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein started coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $281.27.

Insulet Stock Performance

Insulet stock opened at $279.86 on Friday. The business has a 50 day moving average of $272.71 and a 200-day moving average of $246.47. The company has a market capitalization of $19.63 billion, a P/E ratio of 47.95, a P/E/G ratio of 3.56 and a beta of 1.23. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 27.98% and a net margin of 21.22%. On average, equities research analysts predict that Insulet will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was 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 of the company’s stock, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet during the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC lifted its holdings in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Insulet in the fourth quarter worth $42,000. Finally, SRS Capital Advisors Inc. boosted its position in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 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.