Insulet (NASDAQ:PODD) Given “Outperform” Rating at Raymond James

Raymond James reissued their outperform rating on shares of Insulet (NASDAQ:PODD) in a report issued on Friday,Benzinga reports. Raymond James currently has a $328.00 target price on the medical instruments supplier’s stock, up from their previous target price of $294.00.

PODD has been the topic of several other reports. Wells Fargo & Company raised their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler boosted their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup upped their target price on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Barclays lifted their price target on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Insulet Price Performance

Insulet stock opened at $282.80 on Friday. The firm has a fifty day moving average of $272.98 and a 200-day moving average of $247.11. Insulet has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $19.84 billion, a P/E ratio of 48.84, a PEG ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. As a group, analysts predict that Insulet will post 3.92 EPS for the current year.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now 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.

Hedge Funds Weigh In On Insulet

A number of large investors have recently bought and sold shares of PODD. Norges Bank acquired a new stake in shares of Insulet during the 4th quarter worth approximately $248,806,000. Baillie Gifford & Co. increased its position in Insulet by 20.7% in the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after buying an additional 389,639 shares during the period. Mizuho Securities USA LLC increased its position in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares during the period. Raymond James Financial Inc. bought a new stake in Insulet in the fourth quarter valued at $69,433,000. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of Insulet during the fourth quarter worth about $53,184,000.

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.