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Insulet (NASDAQ:PODD) Sets New 52-Week High After Analyst Upgrade

Insulet logo with Medical background

Insulet Co. (NASDAQ:PODD - Get Free Report) shares hit a new 52-week high on Saturday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $350.00 price target on the stock. Insulet traded as high as $312.16 and last traded at $310.42, with a volume of 3214360 shares trading hands. The stock had previously closed at $257.00.

Several other research analysts have also recently issued reports on PODD. 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 target price on the stock. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Piper Sandler lifted their price target on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays lifted 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. Finally, StockNews.com cut shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $306.53.

Check Out Our Latest Analysis on PODD

Insider Transactions at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the business'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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Insulet

A number of hedge funds have recently bought and sold shares of PODD. Vanguard Group Inc. increased its position in shares of Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier's stock valued at $2,276,553,000 after purchasing an additional 178,976 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock valued at $463,347,000 after purchasing an additional 40,566 shares during the last quarter. American Century Companies Inc. increased its position 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. Finally, Groupama Asset Managment increased its position in shares of Insulet by 0.4% during the 1st quarter. Groupama Asset Managment now owns 1,053,759 shares of the medical instruments supplier's stock valued at $276,728,000 after purchasing an additional 3,759 shares during the last quarter.

Insulet Stock Down 0.3%

The stock has a market cap of $22.55 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. 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 company's 50-day moving average price is $260.85 and its 200 day moving average price is $265.20.

Insulet (NASDAQ:PODD - Get Free Report) last released 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. The firm had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business's revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insulet Company Profile

(Get Free Report)

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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