Wolfe Research Upgrades Insulet (NASDAQ:PODD) to “Outperform”

Insulet (NASDAQ:PODD) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Tuesday, Marketbeat reports. The firm presently has a $200.00 target price on the medical instruments supplier’s stock. Wolfe Research’s target price would suggest a potential upside of 13.91% from the stock’s previous close.

Several other analysts also recently weighed in on PODD. Piper Sandler decreased their target price on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Barclays cut their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Finally, Stifel Nicolaus lifted their target price on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $240.33.

Insulet Trading Down 4.7 %

Shares of PODD stock opened at $175.57 on Tuesday. Insulet has a 12 month low of $125.82 and a 12 month high of $331.65. The company has a market cap of $12.29 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86. The business’s 50 day moving average is $170.32 and its two-hundred day moving average is $181.66.

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

Insider Activity

In related news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insulet

A number of hedge funds and other institutional investors have recently bought and sold shares of PODD. Capital Research Global Investors grew its holdings in shares of Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after purchasing an additional 1,556,455 shares during the last quarter. Vanguard Group Inc. grew its holdings in Insulet by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock worth $1,742,264,000 after acquiring an additional 29,387 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Insulet by 18.9% during the first quarter. Baillie Gifford & Co. now owns 1,442,279 shares of the medical instruments supplier’s stock valued at $247,207,000 after purchasing an additional 229,520 shares during the last quarter. Norges Bank acquired a new stake in shares of Insulet in the fourth quarter valued at approximately $227,655,000. Finally, William Blair Investment Management LLC lifted its holdings in Insulet by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after buying an additional 33,579 shares in the last quarter.

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.