Insulet (NASDAQ:PODD) Earns Outperform Rating from Raymond James

Insulet (NASDAQ:PODD - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Raymond James in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $360.00 price objective on the medical instruments supplier's stock, up from their prior price objective of $328.00. Raymond James' target price would suggest a potential upside of 10.94% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. Wolfe Research upgraded Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price for the company in a report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and issued a $380.00 target price (up from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Wall Street Zen cut Insulet from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays upped their target price on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada began coverage on Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $318.41.

Insulet Trading Up 0.2%

Shares of PODD stock traded up $0.65 on Tuesday, reaching $324.50. 960,683 shares of the company's stock were exchanged, compared to its average volume of 709,973. Insulet has a 52 week low of $172.07 and a 52 week high of $329.33. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $22.84 billion, a PE ratio of 56.05, a P/E/G ratio of 3.62 and a beta of 1.26. The company's fifty day simple moving average is $276.61 and its 200 day simple moving average is $271.69.

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, topping analysts' consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. During the same period last year, the company earned $0.73 EPS. Insulet's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, analysts forecast that Insulet will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The shares were 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 in the company, valued at $888,525. This represents a 36.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in shares of Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock valued at $26,000 after purchasing an additional 81 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Insulet in the first quarter valued at about $26,000. SouthState Corp increased its holdings in shares of Insulet by 253.3% in the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 76 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Insulet in the fourth quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Insulet in the fourth quarter valued at about $42,000.

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.