Insulet (NASDAQ:PODD) Shares Gap Up to $180.69

Shares of Insulet Co. (NASDAQ:PODD) gapped up before the market opened on Tuesday . The stock had previously closed at $180.69, but opened at $186.15. Insulet shares last traded at $195.43, with a volume of 123,396 shares.

Analyst Ratings Changes

PODD has been the topic of a number of research reports. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Tuesday, May 7th. BTIG Research decreased their price objective on Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. OTR Global reissued a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Canaccord Genuity Group reissued a “buy” rating and set a $234.00 price objective on shares of Insulet in a report on Tuesday, July 23rd. Finally, Barclays boosted their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.29.

Insulet Trading Up 6.1 %

The company has a market capitalization of $14.32 billion, a P/E ratio of 61.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.16. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The firm has a fifty day moving average price of $195.50 and a 200-day moving average price of $183.39.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Insulet

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Insulet news, SVP Mark N. Field sold 1,500 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now owns 35,586 shares in the company, valued at approximately $6,779,488.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,631 shares of company stock valued at $2,039,316. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Several institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its position 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 acquiring an additional 1,556,455 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after acquiring an additional 443,783 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Insulet by 6.0% during the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after acquiring an additional 75,526 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Insulet during the fourth quarter worth $227,655,000.

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.