Insulet (NASDAQ:PODD) Given New $355.00 Price Target at Citigroup

Insulet (NASDAQ:PODD) had its target price increased by equities researchers at Citigroup from $310.00 to $355.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s price target indicates a potential upside of 26.80% from the stock’s previous close.

PODD has been the topic of several other reports. Piper Sandler raised their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. BTIG Research raised their target price on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Stock Performance

Insulet stock traded down $8.32 during trading hours on Friday, hitting $279.97. The company had a trading volume of 725,388 shares, compared to its average volume of 552,959. Insulet has a one year low of $160.19 and a one year high of $289.46. The firm has a 50-day moving average of $272.71 and a 200 day moving average of $246.47. The firm has a market cap of $19.64 billion, a PE ratio of 47.94, a PEG ratio of 3.56 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The company had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. On average, sell-side analysts expect that Insulet will post 3.22 earnings per share for the current year.

Insider Activity

In other Insulet 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 value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated 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 owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Several hedge funds and other institutional investors have recently modified their holdings of PODD. Norges Bank bought a new stake in Insulet during the 4th quarter worth approximately $248,806,000. Baillie Gifford & Co. increased its holdings in Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares during the period. Mizuho Securities USA LLC increased its holdings in Insulet by 5,928.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares during the period. Raymond James Financial Inc. bought a new stake in Insulet during the 4th quarter worth approximately $69,433,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in Insulet during the 4th quarter worth approximately $53,184,000.

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.