Insulet (NASDAQ:PODD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Insulet (NASDAQ:PODD) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts.
• Royal Bank Of Canada and Wells Fargo have both raised their target prices for Insulet to $350.00, reflecting strong expectations for the company's stock performance.
• Insulet reported an earnings per share of $1.17 for the last quarter, exceeding analysts' expectations by 25 cents and showing a year-over-year revenue increase of 32.9%.

Insulet (NASDAQ:PODD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently weighed in on the stock. Truist Financial initiated coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Insulet from $331.00 to $353.00 and gave the company a "buy" rating in a report on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating on shares of Insulet in a report on Thursday, August 7th. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target for the company in a report on Tuesday, May 13th. Finally, Barclays upped their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Insulet currently has a consensus rating of "Moderate Buy" and a consensus price target of $330.71.

Insulet Price Performance

Shares of NASDAQ PODD traded down $1.29 during trading on Friday, reaching $308.34. The company had a trading volume of 260,864 shares, compared to its average volume of 771,058. Insulet has a 52 week low of $180.31 and a 52 week high of $329.33. The stock has a market cap of $21.70 billion, a PE ratio of 93.88, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The business's 50 day moving average price is $298.45 and its 200-day moving average price is $283.42.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, topping the consensus estimate of $0.92 by $0.25. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The company had revenue of $649.10 million during the quarter, compared to analysts' expectations of $612.31 million. During the same quarter in the previous year, the company earned $0.55 EPS. Insulet's revenue was up 32.9% on a year-over-year basis. Analysts expect that Insulet will post 3.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evelyn Partners Investment Management Services Ltd grew its holdings in shares of Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier's stock worth $55,000 after purchasing an additional 39 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Insulet by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,017 shares of the medical instruments supplier's stock worth $634,000 after purchasing an additional 45 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of Insulet by 0.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 8,462 shares of the medical instruments supplier's stock worth $2,222,000 after purchasing an additional 48 shares during the last quarter. Mather Group LLC. increased its holdings in Insulet by 4.4% in the 2nd quarter. Mather Group LLC. now owns 1,147 shares of the medical instruments supplier's stock worth $360,000 after buying an additional 48 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in Insulet by 7.0% in the 1st quarter. Brooklyn Investment Group now owns 795 shares of the medical instruments supplier's stock worth $209,000 after buying an additional 52 shares in the last quarter.

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.