Insulet (NASDAQ:PODD) Downgraded by Citigroup to Neutral

Citigroup lowered shares of Insulet (NASDAQ:PODD) from a buy rating to a neutral rating in a research report report published on Tuesday, Marketbeat.com reports. The brokerage currently has $230.00 target price on the medical instruments supplier’s stock, down from their prior target price of $338.00.

Other equities research analysts also recently issued research reports about the company. Leerink Partners cut their price target on Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Raymond James Financial cut their price target on Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Truist Financial dropped their price objective on shares of Insulet from $390.00 to $360.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Finally, BTIG Research reissued a “buy” rating and issued a $380.00 price objective on shares of Insulet in a research report on Wednesday, February 18th. Nineteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $344.33.

Insulet Price Performance

Shares of PODD opened at $202.46 on Tuesday. Insulet has a fifty-two week low of $198.10 and a fifty-two week high of $354.88. The firm’s 50 day moving average price is $235.63 and its 200 day moving average price is $281.99. The company has a market cap of $14.25 billion, a P/E ratio of 57.85, a PEG ratio of 1.22 and a beta of 1.47. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

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

Insider Activity at Insulet

In related news, Director Michael R. Minogue bought 2,030 shares of the company’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 transaction, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This represents a 13.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in Insulet by 114.6% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 47 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Insulet during the 4th quarter worth approximately $26,000. True Wealth Design LLC grew its stake 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 buying an additional 72 shares during the last quarter. DV Equities LLC purchased a new position in Insulet during the 4th quarter worth approximately $28,000. Finally, Elyxium Wealth LLC purchased a new position in Insulet during the 4th quarter worth approximately $28,000.

Insulet Company Profile

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.