Insulet (NASDAQ:PODD) Price Target Raised to $322.00 at Wells Fargo & Company

Insulet (NASDAQ:PODD) had its price objective raised by Wells Fargo & Company from $305.00 to $322.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Several other brokerages have also issued reports on PODD. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Citigroup boosted their target price on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. TD Cowen raised their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, BTIG Research upped their price objective on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Insulet Stock Performance

NASDAQ PODD opened at $282.80 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company has a fifty day moving average price of $272.98 and a 200-day moving average price of $247.11. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 48.84, a PEG ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, equities research analysts predict that Insulet will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.