Insulet (NASDAQ:PODD) Shares Gap Up to $155.10

Insulet Co. (NASDAQ:PODD) shares gapped up prior to trading on Monday . The stock had previously closed at $155.10, but opened at $158.99. Insulet shares last traded at $167.76, with a volume of 195,524 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Insulet from $325.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Citigroup upgraded Insulet from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $273.00 to $265.00 in a research report on Monday, August 21st. Morgan Stanley cut their target price on Insulet from $208.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. Barclays lowered their price target on Insulet from $329.00 to $257.00 and set an “equal weight” rating on the stock in a report on Thursday, August 10th. Finally, TD Cowen cut their price objective on shares of Insulet from $350.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average price target of $254.80.

Insulet Stock Performance

The business’s fifty day moving average price is $155.18 and its two-hundred day moving average price is $231.68. The company has a debt-to-equity ratio of 2.26, a quick ratio of 2.35 and a current ratio of 3.26. The stock has a market capitalization of $11.47 billion, a P/E ratio of 96.46, a P/E/G ratio of 2.08 and a beta of 0.83.

Insiders Place Their Bets

In related news, CEO James Hollingshead bought 5,550 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $181.41 per share, with a total value of $1,006,825.50. Following the transaction, the chief executive officer now owns 34,177 shares in the company, valued at approximately $6,200,049.57. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Insulet

Several institutional investors have recently added to or reduced their stakes in the company. Ethic Inc. boosted its holdings in Insulet by 30.3% during the 1st quarter. Ethic Inc. now owns 2,530 shares of the medical instruments supplier’s stock valued at $807,000 after acquiring an additional 589 shares during the period. Private Advisor Group LLC bought a new position in shares of Insulet in the first quarter worth about $468,000. Rhumbline Advisers increased its stake in Insulet by 78.8% in the 1st quarter. Rhumbline Advisers now owns 151,577 shares of the medical instruments supplier’s stock worth $48,347,000 after buying an additional 66,814 shares during the period. Retirement Systems of Alabama purchased a new stake in Insulet in the 1st quarter valued at about $6,547,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Insulet in the first quarter valued at approximately $249,000.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.