Insulet (NASDAQ:PODD) Price Target Raised to $355.00 at Citigroup

Insulet (NASDAQ:PODD) had its price objective upped by Citigroup from $310.00 to $355.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently issued reports on PODD. Piper Sandler upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays lifted their price objective on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Sanford C. Bernstein initiated coverage on Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 target price for the company. Finally, TD Cowen raised their price target on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Price Performance

PODD opened at $282.80 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $19.84 billion, a P/E ratio of 48.84, a PEG ratio of 3.62 and a beta of 1.23. The stock has a 50-day moving average price of $272.98 and a 200-day moving average price of $247.11. Insulet has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Equities analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In related news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PODD. Mackenzie Financial Corp raised its stake in Insulet by 7.0% during the 4th quarter. Mackenzie Financial Corp now owns 7,561 shares of the medical instruments supplier’s stock valued at $1,974,000 after buying an additional 493 shares during the last quarter. Peak Retirement Planning Inc. bought a new stake in shares of Insulet in the fourth quarter worth $1,063,000. Toronto Dominion Bank increased its position in Insulet by 55.2% during the fourth quarter. Toronto Dominion Bank now owns 36,486 shares of the medical instruments supplier’s stock valued at $9,526,000 after acquiring an additional 12,984 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Insulet in the fourth quarter valued at about $439,000. Finally, Public Employees Retirement System of Ohio boosted its position in Insulet by 29.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 33,063 shares of the medical instruments supplier’s stock worth $8,632,000 after purchasing an additional 7,613 shares during 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.