Insulet Corporation (NASDAQ:PODD) Receives $354.24 Consensus PT from Analysts

Insulet Corporation (NASDAQ:PODD) has been given an average recommendation of “Moderate Buy” by the twenty-four brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twenty have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $354.2381.

A number of brokerages have recently issued reports on PODD. Raymond James Financial decreased their target price on Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Sanford C. Bernstein reduced their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. The Goldman Sachs Group decreased their price objective on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Finally, BTIG Research reiterated a “buy” rating and issued a $380.00 target price on shares of Insulet in a research report on Wednesday, February 18th.

Insiders Place Their Bets

In related news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $246.23 per share, with a total value of $499,846.90. Following the purchase, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Insulet

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Insulet by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock worth $2,715,651,000 after acquiring an additional 87,845 shares during the last quarter. State Street Corp increased its position in shares of Insulet by 2.1% during the fourth quarter. State Street Corp now owns 3,155,489 shares of the medical instruments supplier’s stock worth $896,916,000 after purchasing an additional 65,317 shares in the last quarter. Geode Capital Management LLC raised its stake in Insulet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,006,413 shares of the medical instruments supplier’s stock valued at $568,274,000 after purchasing an additional 41,019 shares during the last quarter. Invesco Ltd. lifted its holdings in Insulet by 10.5% in the 4th quarter. Invesco Ltd. now owns 1,480,562 shares of the medical instruments supplier’s stock valued at $420,835,000 after purchasing an additional 141,167 shares in the last quarter. Finally, Norges Bank purchased a new position in Insulet in the 4th quarter valued at $300,794,000.

Insulet Price Performance

Shares of Insulet stock opened at $224.66 on Friday. The firm has a market cap of $15.82 billion, a PE ratio of 64.19, a P/E/G ratio of 1.31 and a beta of 1.42. Insulet has a twelve month low of $216.49 and a twelve month high of $354.88. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $257.29 and a 200 day moving average price of $296.01.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 earnings per share. Sell-side analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

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.