Canaccord Genuity Group Boosts Insulet (NASDAQ:PODD) Price Target to $269.00

Insulet (NASDAQ:PODD) had its target price upped by Canaccord Genuity Group from $236.00 to $269.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also recently commented on PODD. OTR Global restated a mixed rating on shares of Insulet in a research report on Monday, June 10th. Redburn Atlantic assumed coverage on Insulet in a report on Thursday, May 30th. They issued a buy rating and a $235.00 price objective on the stock. Barclays increased their target price on shares of Insulet from $200.00 to $220.00 and gave the company an equal weight rating in a research report on Monday, August 12th. UBS Group boosted their price target on shares of Insulet from $211.00 to $223.00 and gave the stock a neutral rating in a research report on Friday, August 9th. Finally, BTIG Research cut their price objective on shares of Insulet from $270.00 to $250.00 and set a buy rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Insulet currently has an average rating of Moderate Buy and an average price target of $231.71.

Insulet Trading Down 1.4 %

PODD stock opened at $232.03 on Wednesday. Insulet has a 52-week low of $125.82 and a 52-week high of $243.98. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The firm has a market cap of $16.27 billion, a P/E ratio of 70.31, a PEG ratio of 4.47 and a beta of 1.21. The company’s 50-day simple moving average is $206.81 and its 200-day simple moving average is $190.36.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that Insulet will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Insulet

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Insulet by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 124,280 shares of the medical instruments supplier’s stock worth $26,968,000 after purchasing an additional 834 shares in the last quarter. UBS Group AG lifted its holdings in Insulet by 0.9% during the 4th quarter. UBS Group AG now owns 61,404 shares of the medical instruments supplier’s stock worth $13,323,000 after buying an additional 535 shares in the last quarter. Corient Private Wealth LLC boosted its position in Insulet by 72.7% in the 4th quarter. Corient Private Wealth LLC now owns 8,053 shares of the medical instruments supplier’s stock valued at $1,747,000 after buying an additional 3,389 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Insulet by 156.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the medical instruments supplier’s stock worth $1,681,000 after acquiring an additional 4,724 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Insulet by 0.9% during the fourth quarter. US Bancorp DE now owns 16,889 shares of the medical instruments supplier’s stock worth $3,665,000 after acquiring an additional 151 shares during the period.

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.