Insulet (NASDAQ:PODD) Now Covered by Analysts at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Insulet (NASDAQ:PODD - Get Free Report) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $365.00 price target on the medical instruments supplier's stock. Truist Financial's price objective would suggest a potential upside of 19.82% from the company's current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a report on Monday, April 28th. Citigroup reaffirmed a "buy" rating and set a $380.00 price target (up from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Oppenheimer increased their price objective on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. The Goldman Sachs Group started coverage on Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 target price for the company. Finally, Canaccord Genuity Group increased their price target on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $321.00.

Insulet Trading Up 0.3%

Shares of PODD opened at $304.63 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a market cap of $21.44 billion, a P/E ratio of 52.61, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37. The company has a 50 day simple moving average of $287.15 and a two-hundred day simple moving average of $275.06. Insulet has a 1 year low of $173.00 and a 1 year high of $329.33.

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

Insider Activity

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

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently added to or reduced their stakes in PODD. Norges Bank acquired a new stake in Insulet in the fourth quarter valued at approximately $248,806,000. GAMMA Investing LLC increased its position in shares of Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Insulet by 34.8% during the 1st quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier's stock valued at $302,686,000 after purchasing an additional 297,734 shares during the last quarter. Nuveen LLC acquired a new position in Insulet during the 1st quarter valued at about $74,163,000. Finally, Raymond James Financial Inc. purchased a new stake in Insulet in the fourth quarter valued at about $69,433,000.

Insulet Company Profile

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.

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