Insulet (NASDAQ:PODD) Stock Rating Upgraded by Wolfe Research

Insulet (NASDAQ:PODD) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Tuesday, Briefing.com reports. The firm currently has a $200.00 price target on the medical instruments supplier’s stock. Wolfe Research’s target price suggests a potential upside of 13.38% from the company’s previous close.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler decreased their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Barclays reduced their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, Stifel Nicolaus boosted their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. Four 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Insulet Stock Performance

NASDAQ PODD opened at $176.40 on Tuesday. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The company has a fifty day simple moving average of $169.73 and a 200 day simple moving average of $181.43. Insulet has a 12-month low of $125.82 and a 12-month high of $331.65. The company has a market cap of $12.35 billion, a P/E ratio of 60.62, a PEG ratio of 3.14 and a beta of 1.00.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business had revenue of $509.80 million for the quarter, compared to analysts’ expectations of $461.26 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Sell-side analysts predict that Insulet will post 3.08 earnings per share for the current fiscal year.

Insider Activity at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insulet

Several hedge funds have recently added to or reduced their stakes in PODD. Capital Research Global Investors grew its holdings in shares of Insulet by 19.7% during the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after purchasing an additional 1,556,455 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Insulet by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock valued at $1,742,264,000 after buying an additional 29,387 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Insulet by 18.9% in the 1st quarter. Baillie Gifford & Co. now owns 1,442,279 shares of the medical instruments supplier’s stock valued at $247,207,000 after acquiring an additional 229,520 shares during the last quarter. Norges Bank purchased a new stake in Insulet during the 4th quarter valued at about $227,655,000. Finally, Goldman Sachs Group Inc. grew its position in Insulet by 56.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock worth $190,623,000 after acquiring an additional 316,649 shares during the last quarter.

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.