Insulet (NASDAQ:PODD) Posts Earnings Results, Beats Expectations By $0.15 EPS

Insulet (NASDAQ:PODD) posted its quarterly earnings data on Thursday. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15, Zacks reports. Insulet had a net margin of 21.22% and a return on equity of 27.98%.

Insulet Stock Up 1.6 %

Shares of PODD traded up $4.61 during trading hours on Thursday, reaching $288.29. The company’s stock had a trading volume of 830,677 shares, compared to its average volume of 540,636. The company has a 50 day moving average of $272.37 and a two-hundred day moving average of $246.18. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 49.36, a P/E/G ratio of 3.52 and a beta of 1.23. Insulet has a 1-year low of $160.19 and a 1-year high of $289.46.

Wall Street Analysts Forecast Growth

PODD has been the subject of a number of research reports. Morgan Stanley increased their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. TD Cowen raised their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Canaccord Genuity Group boosted their price target on shares of Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Barclays boosted their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.13.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 owns 5,733 shares in the company, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

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.