BTIG Research Lowers Insulet (NASDAQ:PODD) Price Target to $320.00

Key Points

• BTIG Research cut its price target for Insulet to $320 from $380 while maintaining a "buy" rating, implying about 62.5% upside from the current price.
• Analyst sentiment remains largely favorable—19 Buys, 4 Holds and 1 Sell—giving a "Moderate Buy" consensus and an average price target of $339.14.
• Insulet recently beat estimates with $1.55 EPS (vs. $1.48 expected) and $783.8M revenue, a 31.2% year‑over‑year increase.

Insulet (NASDAQ:PODD - Get Free Report) had its price objective dropped by analysts at BTIG Research from $380.00 to $320.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. BTIG Research's target price suggests a potential upside of 62.49% from the company's current price.

PODD has been the subject of several other reports. UBS Group restated a "buy" rating on shares of Insulet in a report on Thursday, December 18th. Canaccord Genuity Group dropped their price objective on shares of Insulet from $450.00 to $435.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Raymond James Financial decreased their target price on shares of Insulet from $385.00 to $355.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. Zacks Research downgraded shares of Insulet from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group reduced 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. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $339.14.

Insulet Stock Performance

Insulet stock opened at $196.93 on Monday. Insulet has a 52 week low of $195.28 and a 52 week 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 $13.64 billion, a P/E ratio of 56.27, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The stock has a 50 day moving average of $232.25 and a 200-day moving average of $279.24.

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

Insider Buying and Selling

In related news, Director Michael R. Minogue bought 2,030 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in Insulet by 44.8% during the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier's stock valued at $54,000 after acquiring an additional 64 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Insulet by 7.3% during the 2nd quarter. Cresset Asset Management LLC now owns 2,587 shares of the medical instruments supplier's stock worth $813,000 after purchasing an additional 177 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Insulet by 68.7% during the 2nd quarter. Cerity Partners LLC now owns 17,262 shares of the medical instruments supplier's stock worth $5,423,000 after purchasing an additional 7,030 shares in the last quarter. Sei Investments Co. increased its position in shares of Insulet by 27.4% during the second quarter. Sei Investments Co. now owns 137,643 shares of the medical instruments supplier's stock valued at $43,245,000 after purchasing an additional 29,584 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of Insulet by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 32,752 shares of the medical instruments supplier's stock valued at $10,290,000 after purchasing an additional 791 shares during the period.

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.

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