BTIG Research Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD) had its price objective raised by BTIG Research from $260.00 to $270.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

A number of other brokerages also recently issued reports on PODD. Citigroup raised their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. UBS Group boosted their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Barclays increased their target price on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Canaccord Genuity Group boosted their price target on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Raymond James raised their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $253.27.

Insulet Stock Up 2.9 %

Shares of PODD stock opened at $275.70 on Friday. Insulet has a 52-week low of $156.00 and a 52-week high of $279.40. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 5.00 and a beta of 1.22. The firm’s 50-day moving average is $233.46 and its 200-day moving average is $205.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60.

Hedge Funds Weigh In On Insulet

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Insulet in the second quarter valued at about $99,978,000. Baillie Gifford & Co. lifted its stake in Insulet by 30.8% in the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after purchasing an additional 443,783 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in Insulet by 5,928.1% during the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock valued at $75,835,000 after purchasing an additional 320,416 shares during the period. Canada Pension Plan Investment Board increased its position in Insulet by 206.9% in the first quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock worth $73,632,000 after buying an additional 289,591 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after buying an additional 169,506 shares during the period.

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.