Insulet (NASDAQ:PODD) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Insulet (NASDAQ:PODD - Free Report) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $380.00 price target on the medical instruments supplier's stock.

Several other research firms also recently issued reports on PODD. Citigroup reiterated a "buy" rating and set a $380.00 price target (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Stifel Nicolaus increased their target price on Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Oppenheimer upped their price target on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Wells Fargo & Company set a $322.00 target price on Insulet in a report on Monday, April 28th. Finally, Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $318.41.

Insulet Trading Up 0.2%

Shares of Insulet stock traded up $0.65 on Friday, reaching $324.50. 960,683 shares of the company were exchanged, compared to its average volume of 706,851. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 56.05, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. Insulet has a fifty-two week low of $172.07 and a fifty-two week high of $329.33. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average price of $276.61 and a 200-day moving average price of $271.71.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same period in the previous year, the firm earned $0.73 earnings per share. Insulet's quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts expect that Insulet will post 3.92 EPS for the current year.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the transaction, the senior vice president now owns 23,180 shares in the company, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Insulet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Horizon Investments LLC boosted its holdings in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after buying an additional 42 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Insulet by 9.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 47 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Insulet by 2.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Insulet by 0.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 8,462 shares of the medical instruments supplier's stock valued at $2,222,000 after purchasing an additional 48 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Insulet by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock valued at $274,000 after purchasing an additional 50 shares in the last quarter.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.