Insulet (NASDAQ:PODD) Sets New 1-Year High - Still a Buy?

Insulet Co. (NASDAQ:PODD - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $325.22 and last traded at $324.75, with a volume of 836387 shares trading hands. The stock had previously closed at $322.02.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup boosted their price objective on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a report on Friday, February 21st. Barclays boosted their price objective on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Stifel Nicolaus upped their target price on Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. Raymond James reaffirmed an "outperform" rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Finally, StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Insulet has a consensus rating of "Moderate Buy" and an average price target of $306.53.

Insulet Trading Up 0.8%

The business has a 50 day simple moving average of $264.14 and a 200-day simple moving average of $266.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market capitalization of $22.85 billion, a P/E ratio of 56.09, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26.

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

Insider Activity

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

Institutional Trading of Insulet

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Insulet in the fourth quarter worth $36,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Insulet by 30.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock worth $2,192,000 after acquiring an additional 1,942 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Insulet by 21.8% in the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock worth $41,338,000 after acquiring an additional 28,375 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Insulet by 4.3% in the fourth quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier's stock worth $633,000 after acquiring an additional 100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Insulet in the fourth quarter worth $9,822,000.

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.

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