Insulet (NASDAQ:PODD) Sets New 52-Week High - Here's Why

Insulet Co. (NASDAQ:PODD - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $329.33 and last traded at $324.50, with a volume of 653394 shares. The stock had previously closed at $327.47.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a report on Monday, April 28th. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Royal Bank of Canada assumed coverage on shares of Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective for the company. Raymond James raised their target price on Insulet from $328.00 to $360.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Barclays lifted their price target on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $309.88.

Insulet Trading Up 1.7%

The business's 50-day simple moving average is $272.24 and its 200-day simple moving average is $270.26. The company has a market cap of $23.00 billion, a PE ratio of 56.41, a P/E/G ratio of 3.62 and a beta of 1.26. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS 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 business had revenue of $569.00 million during the quarter, compared to analysts' expectations of $543.20 million. During the same quarter in the previous year, the business posted $0.73 EPS. The firm's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction on Wednesday, May 14th. The shares were 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 owns 23,180 shares in the company, valued at $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 is available through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now owns 3,231 shares of the company's stock, valued at approximately $888,525. The trade was a 36.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On Insulet

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Insulet by 426.3% during the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after buying an additional 81 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Insulet in the first quarter worth about $26,000. SouthState Corp lifted its holdings in Insulet by 253.3% during the 1st quarter. SouthState Corp now owns 106 shares of the medical instruments supplier's stock worth $28,000 after buying an additional 76 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the fourth quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Insulet in the 4th quarter valued at about $42,000.

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.