Citigroup Lowers Insulet (NASDAQ:PODD) Price Target to $338.00

Insulet (NASDAQ:PODD) had its price target dropped by Citigroup from $345.00 to $338.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s price objective would indicate a potential upside of 43.18% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price target 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. Evercore set a $340.00 target price on Insulet in a report on Thursday, February 19th. JPMorgan Chase & Co. reduced their price target on Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Sanford C. Bernstein decreased their price target on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $354.24.

Insulet Stock Performance

NASDAQ:PODD opened at $236.07 on Wednesday. The stock’s 50-day moving average is $259.73 and its 200-day moving average is $298.06. Insulet has a 1-year low of $233.29 and a 1-year high of $354.88. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The stock has a market cap of $16.62 billion, a P/E ratio of 67.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42.

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

Insider Activity

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

Hedge Funds Weigh In On Insulet

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in shares of 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 in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Insulet in the 4th quarter valued at $26,000. True Wealth Design LLC boosted its stake in Insulet by 288.0% during the third 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 in the last quarter. DV Equities LLC acquired a new stake in Insulet in the fourth quarter worth $28,000. Finally, Elyxium Wealth LLC acquired a new stake in Insulet in the fourth quarter worth $28,000.

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.