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

Sanford C. Bernstein initiated coverage on shares of Insulet (NASDAQ:PODD) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set an “outperform” rating and a $300.00 price target on the medical instruments supplier’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 22.46% from the company’s current price.

Several other research firms have also recently commented on PODD. Barclays raised their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. BTIG Research raised their target price on shares of Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group raised their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Raymond James raised their target price on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $246.13.

Insulet Trading Up 2.4 %

Shares of PODD opened at $244.98 on Wednesday. The stock has a market capitalization of $17.18 billion, a P/E ratio of 44.54, a PEG ratio of 4.43 and a beta of 1.22. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $230.70 and a two-hundred day simple moving average of $203.24. Insulet has a twelve month low of $151.56 and a twelve month high of $248.55.

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

Institutional Trading of Insulet

Several large investors have recently added to or reduced their stakes in the business. Norden Group LLC lifted its holdings in Insulet by 52.4% during the first quarter. Norden Group LLC now owns 2,718 shares of the medical instruments supplier’s stock valued at $466,000 after purchasing an additional 934 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Insulet by 34.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,060 shares of the medical instruments supplier’s stock valued at $1,724,000 after purchasing an additional 2,573 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Insulet by 5.4% during the first quarter. Nordea Investment Management AB now owns 5,362 shares of the medical instruments supplier’s stock valued at $914,000 after purchasing an additional 274 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Insulet by 60.4% during the first quarter. Daiwa Securities Group Inc. now owns 10,477 shares of the medical instruments supplier’s stock valued at $1,796,000 after purchasing an additional 3,946 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Insulet during the first quarter valued at approximately $69,000.

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.