Insulet (NASDAQ:PODD) Price Target Raised to $285.00

Insulet (NASDAQ:PODD) had its price target upped by Piper Sandler from $230.00 to $285.00 in a research note published on Tuesday, Benzinga reports. They currently have an overweight rating on the medical instruments supplier’s stock.

PODD has been the subject of a number of other research reports. BTIG Research cut their price objective on shares of Insulet from $270.00 to $250.00 and set a buy rating for the company in a report on Friday, August 9th. Redburn Atlantic started coverage on Insulet in a research note on Thursday, May 30th. They issued a buy rating and a $235.00 price target for the company. Barclays increased their price objective on shares of Insulet from $200.00 to $220.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. OTR Global restated a mixed rating on shares of Insulet in a research report on Monday, June 10th. Finally, Canaccord Genuity Group reiterated a buy rating and set a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Insulet currently has a consensus rating of Moderate Buy and an average price target of $229.21.

Insulet Trading Up 0.7 %

Insulet stock opened at $237.68 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The stock has a 50-day simple moving average of $201.51 and a 200 day simple moving average of $187.32. The stock has a market capitalization of $16.66 billion, a P/E ratio of 72.02, a PEG ratio of 4.31 and a beta of 1.21. Insulet has a 52 week low of $125.82 and a 52 week high of $243.98.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. Insulet’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Analysts expect that Insulet will post 3.04 earnings per share for the current year.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in shares of Insulet during the first quarter worth $29,000. International Assets Investment Management LLC bought a new stake in shares of Insulet in the 2nd quarter valued at $32,000. UMB Bank n.a. increased its position in shares of Insulet by 81.0% during the second 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 period. Jones Financial Companies Lllp acquired a new position in Insulet in the fourth quarter valued at $40,000. Finally, CVA Family Office LLC grew its holdings in Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 145 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.