Insulet’s (PODD) Outperform Rating Reiterated at Raymond James

Insulet (NASDAQ:PODD)‘s stock had its “outperform” rating reissued by research analysts at Raymond James in a note issued to investors on Friday,Benzinga reports. They currently have a $328.00 price target on the medical instruments supplier’s stock, up from their previous price target of $294.00. Raymond James’ target price indicates a potential upside of 16.46% from the stock’s current price.

PODD has been the topic of a number of other research reports. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup lifted their target price on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays boosted their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, BTIG Research lifted their target price on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $286.25.

Insulet Stock Performance

NASDAQ:PODD traded down $6.66 during midday trading on Friday, reaching $281.64. 485,906 shares of the company traded hands, compared to its average volume of 545,824. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company has a fifty day moving average price of $272.71 and a 200 day moving average price of $246.47. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 48.20, a price-to-earnings-growth ratio of 3.56 and a beta of 1.23.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. On average, analysts expect that Insulet will post 3.22 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Several large investors have recently bought and sold shares of PODD. Blue Trust Inc. grew its position in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Insulet by 633.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Insulet during the fourth quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in Insulet in the fourth quarter valued at about $42,000. Finally, SRS Capital Advisors Inc. raised its holdings in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares in the last quarter.

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.