Truist Financial Issues Pessimistic Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its target price decreased by research analysts at Truist Financial from $360.00 to $315.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s price objective would suggest a potential upside of 56.35% from the company’s previous close.

PODD has been the subject of several other research reports. The Goldman Sachs Group cut their price objective on Insulet from $326.00 to $277.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price objective for the company. in a research report on Monday, January 26th. Canaccord Genuity Group cut their price objective on Insulet from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Sanford C. Bernstein cut their price objective on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Finally, BTIG Research cut their price objective on Insulet from $380.00 to $320.00 and set a “buy” rating for the company in a research report on Monday. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.38.

Insulet Price Performance

Insulet stock opened at $201.47 on Wednesday. The business has a 50 day simple moving average of $228.27 and a 200-day simple moving average of $276.48. The stock has a market capitalization of $13.95 billion, a PE ratio of 57.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. Insulet has a 12 month low of $194.61 and a 12 month high of $354.88.

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

Insiders Place Their Bets

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

Institutional Trading of Insulet

Large investors have recently bought and sold shares of the company. Winnow Wealth LLC acquired a new stake in shares of Insulet during the third quarter valued at $862,000. Nordea Investment Management AB boosted its stake in shares of Insulet by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier’s stock valued at $157,128,000 after acquiring an additional 142,922 shares during the last quarter. Jain Global LLC boosted its stake in shares of Insulet by 148.2% during the third quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier’s stock valued at $32,945,000 after acquiring an additional 63,719 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Insulet during the third quarter valued at $2,778,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Insulet by 38.1% during the third quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier’s stock valued at $14,286,000 after acquiring an additional 12,754 shares during the last quarter.

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.