Stifel Nicolaus Lowers Insulet (NASDAQ:PODD) Price Target to $350.00

Insulet (NASDAQ:PODD) had its target price decreased by analysts at Stifel Nicolaus from $370.00 to $350.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 43.94% from the company’s previous close.

Several other research firms also recently weighed in on PODD. Jefferies Financial Group raised their price objective on Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Canaccord Genuity Group increased their target price on Insulet from $432.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Wolfe Research boosted their price target on Insulet from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Raymond James Financial raised their price objective on shares of Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Truist Financial cut their target price on shares of Insulet from $412.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.10.

Insulet Price Performance

PODD stock opened at $243.15 on Wednesday. The company has a 50 day simple moving average of $285.20 and a 200 day simple moving average of $307.99. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 70.48, a P/E/G ratio of 1.42 and a beta of 1.41. Insulet has a 1 year low of $230.05 and a 1 year high of $354.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million for the quarter, compared to analyst estimates of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. Research analysts anticipate that Insulet will post 3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently modified their holdings of PODD. Elyxium Wealth LLC bought a new position in Insulet during the fourth quarter worth $28,000. True Wealth Design LLC grew its holdings in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 72 shares during the period. Golden State Wealth Management LLC raised its position in shares of Insulet by 202.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after acquiring an additional 69 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Insulet in the 2nd quarter worth about $35,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 43 shares during the period.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.