Insulet's (PODD) "Hold" Rating Reiterated at Truist Financial

Key Points

• Truist reiterated its Hold rating on Insulet and raised its price target from $153 to $160, implying 9.21% upside from the current share price.
• Analyst views are mixed, but the consensus rating is Hold with an average price target of $185.67; 12 analysts rate the stock Buy, 12 Hold and one Sell.
• Insulet reported quarterly EPS of $1.99, beating the $1.59 consensus estimate, while revenue rose 19.2% year over year to $842 million.

Insulet (NASDAQ:PODD - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Truist Financial in a report released on Monday, Benzinga reports. They presently have a $160.00 price objective on the medical instruments supplier's stock, up from their previous price objective of $153.00. Truist Financial's target price suggests a potential upside of 9.21% from the company's current price.

Other equities research analysts have also issued reports about the company. Barclays raised their price objective on Insulet from $150.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday. Wall Street Zen upgraded Insulet from a "hold" rating to a "buy" rating in a report on Saturday. Canaccord Genuity Group cut their target price on Insulet from $249.00 to $179.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Leerink Partners increased their price target on Insulet from $143.00 to $167.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Citigroup increased their price target on Insulet from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday. Twelve analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Insulet presently has an average rating of "Hold" and a consensus price target of $185.67.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $146.51 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 0.60. Insulet has a 12 month low of $126.40 and a 12 month high of $354.88. The company has a 50-day moving average price of $141.97 and a 200 day moving average price of $176.65. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.12 and a beta of 1.06.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The medical instruments supplier reported $1.99 EPS for the quarter, topping the consensus estimate of $1.59 by $0.40. Insulet had a return on equity of 31.76% and a net margin of 13.44%. The company had revenue of $842.00 million during the quarter, compared to analyst estimates of $832.63 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm's revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts predict that Insulet will post 6.75 earnings per share for the current year.

Hedge Funds Weigh In On Insulet

Several hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co lifted its position in Insulet by 47.0% during the third quarter. Diversified Trust Co now owns 5,036 shares of the medical instruments supplier's stock valued at $657,000 after acquiring an additional 1,611 shares during the last quarter. Allworth Financial LP grew its holdings in Insulet by 2.3% in the third quarter. Allworth Financial LP now owns 3,104 shares of the medical instruments supplier's stock worth $405,000 after purchasing an additional 71 shares during the last quarter. Fifth Third Bancorp grew its holdings in Insulet by 21.3% in the third quarter. Fifth Third Bancorp now owns 64,540 shares of the medical instruments supplier's stock worth $8,421,000 after purchasing an additional 11,334 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Insulet by 22.5% in the third quarter. Maryland State Retirement & Pension System now owns 4,176 shares of the medical instruments supplier's stock worth $545,000 after purchasing an additional 768 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Insulet in the third quarter worth $276,000.

Insulet Company Profile

Insulet Corporation is a medical device company focused on insulin delivery for people with diabetes. Founded in 2000, the company developed the Omnipod platform, which delivers insulin through a small, wearable pod without the tubing used by many traditional insulin pumps.

Its products include Omnipod DASH and Omnipod 5, an automated insulin delivery system that can adjust insulin delivery based on glucose readings from compatible continuous glucose monitors. Insulet also provides related controllers, mobile app features, supplies and customer support.

Insulet serves customers in the United States and international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.