Insulet (NASDAQ:PODD) Shares Gap Up to $140.44

Insulet Co. (NASDAQ:PODD) shares gapped up before the market opened on Friday . The stock had previously closed at $140.44, but opened at $156.00. Insulet shares last traded at $166.66, with a volume of 495,012 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on PODD shares. UBS Group decreased their price objective on Insulet from $270.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, September 6th. Morgan Stanley dropped their price objective on Insulet from $208.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, September 29th. SVB Leerink started coverage on Insulet in a research note on Monday, October 16th. They issued an “outperform” rating and a $184.00 price objective on the stock. Citigroup upgraded Insulet from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $273.00 to $265.00 in a research note on Monday, August 21st. Finally, Barclays dropped their target price on Insulet from $329.00 to $257.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insulet Stock Up 15.8 %

The stock has a 50 day moving average price of $158.63 and a 200-day moving average price of $238.03. The stock has a market capitalization of $11.35 billion, a P/E ratio of 95.08, a PEG ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 2.47, a current ratio of 3.34 and a quick ratio of 2.38.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.14. Insulet had a return on equity of 22.42% and a net margin of 4.29%. The firm had revenue of $396.50 million for the quarter, compared to analysts’ expectations of $383.97 million. As a group, research analysts expect that Insulet Co. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Insulet news, CEO James Hollingshead bought 5,550 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the purchase, the chief executive officer now directly owns 34,177 shares of the company’s stock, valued at $6,200,049.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by insiders.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently bought and sold shares of PODD. American National Bank bought a new stake in Insulet in the 1st quarter worth approximately $28,000. Allworth Financial LP grew its position in Insulet by 104.5% in the 3rd quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after purchasing an additional 92 shares during the period. BluePath Capital Management LLC bought a new stake in Insulet in the 3rd quarter worth approximately $31,000. First Manhattan Co. bought a new stake in Insulet in the 4th quarter worth approximately $35,000. Finally, Lindbrook Capital LLC grew its position in shares of Insulet by 78.1% during the 1st quarter. Lindbrook Capital LLC now owns 114 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 50 shares during the period.

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.