Insulet (NASDAQ:PODD) Hits New 12-Month High – Should You Buy?

Insulet Co. (NASDAQ:PODD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $287.00 and last traded at $281.67, with a volume of 28197 shares. The stock had previously closed at $278.48.

Analyst Upgrades and Downgrades

PODD has been the topic of several research reports. Citigroup raised their price objective on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group raised their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays upped their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen raised their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.13.

Insulet Stock Performance

The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market cap of $20.18 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. The firm has a fifty day moving average price of $269.95 and a 200 day moving average price of $240.32.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.13. Insulet had a return on equity of 27.98% and a net margin of 21.22%. The company had revenue of $543.90 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same period last year, the business posted $0.71 earnings per share. Research analysts forecast that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction that occurred on 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 approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insulet

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. purchased a new position in Insulet in the fourth quarter valued at $36,000. Venturi Wealth Management LLC raised its position 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 acquiring an additional 133 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after acquiring an additional 56 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Insulet during the 4th quarter valued at about $57,000.

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.