Insulet (NASDAQ:PODD) Cut to Peer Perform at Wolfe Research

Wolfe Research lowered shares of Insulet (NASDAQ:PODD) from an outperform rating to a peer perform rating in a research note published on Tuesday morning, Marketbeat.com reports.

A number of other research analysts have also recently commented on PODD. TD Cowen increased their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler increased their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada assumed coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $293.94.

Insulet Stock Performance

Shares of Insulet stock opened at $250.25 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a market cap of $17.57 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company has a 50 day moving average of $257.71 and a 200-day moving average of $262.07. Insulet has a 1-year low of $160.19 and a 1-year high of $289.46.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. As a group, equities research analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Institutional investors and hedge funds have recently modified their holdings of the business. Horizon Investments LLC boosted its stake in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after purchasing an additional 43 shares during the period. Graypoint LLC boosted its position in shares of Insulet by 5.3% during the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 47 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Insulet by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 47 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in Insulet by 2.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier’s stock valued at $552,000 after buying an additional 48 shares in 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.