Insulet (NASDAQ:PODD) Hits New 1-Year High – Here’s What Happened

Shares of Insulet Co. (NASDAQ:PODD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $282.87 and last traded at $280.52, with a volume of 12065 shares changing hands. The stock had previously closed at $280.35.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PODD. Canaccord Genuity Group boosted their target price on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Raymond James boosted their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley lifted their price objective on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, TD Cowen upped 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. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.81.

Insulet Price Performance

The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.22. 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 fifty day moving average is $267.25 and its two-hundred day moving average is $235.80.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, topping the consensus estimate of $0.77 by $0.13. The business had revenue of $543.90 million for the quarter, compared to analysts’ expectations of $518.50 million. Insulet had a return on equity of 27.98% and a net margin of 21.22%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities research analysts forecast that Insulet Co. will post 3.22 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PODD. Blue Trust Inc. boosted 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 purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Insulet during the 4th quarter valued at $57,000. TD Private Client Wealth LLC grew its holdings in shares of Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Insulet by 106.1% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 157 shares during 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.