Insulet (NASDAQ:PODD) Stock Price Expected to Rise, BTIG Research Analyst Says

Insulet (NASDAQ:PODD) had its target price increased by stock analysts at BTIG Research from $260.00 to $270.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price target points to a potential downside of 1.61% from the stock’s previous close.

PODD has been the topic of several other research reports. Sanford C. Bernstein started coverage on Insulet in a research note on Wednesday. They issued an “outperform” rating and a $300.00 price target on the stock. Raymond James boosted their target price on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price target on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler lifted their price objective 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 increased their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $246.80.

Insulet Stock Up 12.0 %

NASDAQ PODD traded up $29.45 during trading hours on Friday, reaching $274.43. 688,233 shares of the company’s stock were exchanged, compared to its average volume of 777,953. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. Insulet has a one year low of $151.56 and a one year high of $275.52. The company’s 50-day moving average is $230.70 and its two-hundred day moving average is $203.24. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 49.90, a price-to-earnings-growth ratio of 4.43 and a beta of 1.22.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PODD. Vanguard Group Inc. boosted its position in Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of 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 buying an additional 389,639 shares during the period. Clearbridge Investments LLC grew its stake in Insulet by 6.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after buying an additional 75,526 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after acquiring an additional 33,579 shares during the period. Finally, American Century Companies Inc. raised its holdings in Insulet by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after acquiring an additional 139,246 shares during the period.

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.