Wells Fargo & Company Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Key Points

• Wells Fargo & Company has raised Insulet's price target from $330.00 to $350.00, reflecting a potential upside of 12.66% from its current price and maintaining an "overweight" rating on the stock.
• Insulet has received multiple upgrades from analysts, with Oppenheimer setting a price target of $324.00 and Wolfe Research aligning with Wells Fargo's target of $350.00, contributing to a consensus target of $322.56.
• Insulet's stock recently traded at $310.66 after an increase of $7.11, and the company reported a significant earnings per share of $1.17 for the last quarter, surpassing estimates of $0.92.

Insulet (NASDAQ:PODD - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $330.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical instruments supplier's stock. Wells Fargo & Company's price target would suggest a potential upside of 13.97% from the company's current price.

Other equities analysts have also issued reports about the company. Barclays increased 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. Morgan Stanley reaffirmed an "overweight" rating on shares of Insulet in a report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $360.00 price target (up from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Oppenheimer raised their price target on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Truist Financial started coverage on Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $330.71.

Insulet Stock Performance

NASDAQ PODD traded up $3.55 on Friday, hitting $307.10. 1,099,682 shares of the stock traded hands, compared to its average volume of 648,924. The business's fifty day moving average is $299.12 and its two-hundred day moving average is $283.07. Insulet has a 12 month low of $173.00 and a 12 month high of $329.33. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 93.34, a PEG ratio of 2.66 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.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.25. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The business had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. During the same period in the prior year, the company earned $0.55 earnings per share. Insulet's revenue was up 32.9% compared to the same quarter last year. As a group, equities analysts anticipate that Insulet will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Insulet

Large investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in Insulet during the first quarter valued at about $26,000. Larson Financial Group LLC raised its position in Insulet by 426.3% during 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 in the last quarter. Golden State Wealth Management LLC raised its position in Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier's stock valued at $32,000 after purchasing an additional 69 shares in the last quarter. SouthState Corp raised its position in Insulet by 253.3% during 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 in the last quarter. Finally, Kozak & Associates Inc. purchased a new position in shares of Insulet in the second quarter worth about $32,000.

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.