Insulet (NASDAQ:PODD) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Insulet (NASDAQ:PODD) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $300.00 target price on the medical instruments supplier’s stock.

PODD has been the topic of several other reports. BTIG Research lifted their price target on Insulet from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup upped their target price on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group boosted their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler lifted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, UBS Group raised their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $246.13.

Insulet Stock Performance

NASDAQ:PODD opened at $239.30 on Wednesday. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. Insulet has a twelve month low of $151.56 and a twelve month high of $248.55. The stock has a market cap of $16.78 billion, a P/E ratio of 43.51, a price-to-earnings-growth ratio of 4.43 and a beta of 1.22. The firm’s fifty day simple moving average is $229.90 and its 200 day simple moving average is $202.95.

Insulet (NASDAQ:PODD) last released its quarterly 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 company had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same period in the previous year, the company earned $0.38 earnings per share. Insulet’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts predict that Insulet will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently bought and sold shares of PODD. Blue Trust Inc. increased its position in Insulet by 84.1% in the third 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. International Assets Investment Management LLC purchased a new position in Insulet during the second quarter valued at $32,000. Venturi Wealth Management LLC increased its holdings in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Insulet by 81.0% in 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 in the last quarter. Finally, CVA Family Office LLC boosted its stake in Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 145 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.