Insulet (NASDAQ:PODD) Reaches New 1-Year High at $236.62

Insulet Co. (NASDAQ:PODD) shares hit a new 52-week high during trading on Monday . The company traded as high as $236.62 and last traded at $233.96, with a volume of 24023 shares changing hands. The stock had previously closed at $233.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PODD shares. Barclays boosted their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. UBS Group lifted their price target on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. BTIG Research decreased their price objective on Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. Finally, OTR Global reiterated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.29.

Insulet Stock Performance

The company’s 50 day simple moving average is $199.23 and its 200 day simple moving average is $186.02. The stock has a market cap of $16.39 billion, a PE ratio of 70.87, a price-to-earnings-growth ratio of 4.26 and a beta of 1.21. 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 (NASDAQ:PODD) last posted its quarterly 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 business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. Analysts expect that Insulet Co. will post 3.04 earnings per share for the current year.

Hedge Funds Weigh In On Insulet

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Insulet during the 2nd quarter worth about $830,000. Clearbridge Investments LLC boosted its holdings in Insulet by 6.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after purchasing an additional 75,526 shares during the period. Founders Financial Alliance LLC bought a new position in shares of Insulet in the second quarter worth $204,000. Granite Bay Wealth Management LLC purchased a new stake in shares of Insulet in the second quarter worth $1,271,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Insulet by 10.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the medical instruments supplier’s stock valued at $202,000 after buying an additional 95 shares during the period.

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.