Piper Sandler Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price objective hoisted by equities research analysts at Piper Sandler from $285.00 to $310.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s price objective indicates a potential upside of 10.77% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. BTIG Research boosted their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Barclays boosted their price objective on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective 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, Citigroup upped 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average price target of $281.27.

Insulet Price Performance

Insulet stock opened at $279.86 on Friday. Insulet has a 1 year low of $160.19 and a 1 year high of $289.46. The firm has a 50 day moving average price of $272.71 and a 200 day moving average price of $246.47. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 3.56 and a beta of 1.23. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (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 during the quarter, compared to the consensus estimate of $582.02 million. Sell-side analysts predict that Insulet will post 3.22 earnings per share for the current year.

Insider Activity at Insulet

In related news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Insulet

A number of institutional investors and hedge funds have recently modified their holdings of PODD. Blue Trust Inc. raised its holdings in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet during the fourth quarter worth $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Insulet during the fourth quarter worth $42,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during the period.

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.