Insulet (NASDAQ:PODD) Given New $320.00 Price Target at BTIG Research

Insulet (NASDAQ:PODD) had its price target lowered by BTIG Research from $380.00 to $320.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts also recently weighed in on PODD. Barclays reissued an “underweight” rating and issued a $286.00 target price on shares of Insulet in a report on Thursday, February 19th. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. TD Cowen downgraded Insulet from a “buy” rating to a “hold” rating and set a $294.00 price objective on the stock. in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $339.14.

Insulet Stock Up 0.4%

PODD stock opened at $197.78 on Monday. Insulet has a fifty-two week low of $194.61 and a fifty-two week high of $354.88. The business’s 50-day moving average is $231.07 and its two-hundred day moving average is $278.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 56.51, a P/E/G ratio of 1.18 and a beta of 1.47.

Insulet (NASDAQ:PODD) last posted its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $1.15 earnings per share. Insulet’s revenue was up 31.2% on a year-over-year basis. As a group, analysts forecast that Insulet will post 3.92 earnings per share for the current year.

Insider Activity at Insulet

In related news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by company insiders.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after purchasing an additional 87,845 shares during the period. State Street Corp raised its stake in Insulet by 2.1% during the 4th quarter. State Street Corp now owns 3,155,489 shares of the medical instruments supplier’s stock valued at $896,916,000 after purchasing an additional 65,317 shares during the period. Geode Capital Management LLC raised its stake in Insulet by 2.1% during 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 period. Invesco Ltd. raised its stake in Insulet by 10.5% during 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 during the period. Finally, Norges Bank bought a new stake in Insulet during the 4th quarter valued at approximately $300,794,000.

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.