Insulet (NASDAQ:PODD) Reaches New 12-Month High – Still a Buy?

Insulet Co. (NASDAQ:PODD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $248.55 and last traded at $242.02, with a volume of 10941 shares traded. The stock had previously closed at $241.32.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PODD. Citigroup increased their price objective on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group raised their target price on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays raised their target price on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group raised their target price on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, BTIG Research raised their target price on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.80.

Insulet Stock Up 9.4 %

The company’s fifty day moving average price is $230.70 and its 200-day moving average price is $203.24. The stock has a market cap of $18.79 billion, a P/E ratio of 49.39, a price-to-earnings-growth ratio of 4.47 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60.

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

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in Insulet by 113.8% during the 3rd quarter. Jennison Associates LLC now owns 129,967 shares of the medical instruments supplier’s stock valued at $30,250,000 after buying an additional 69,180 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Insulet by 33.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 63,052 shares of the medical instruments supplier’s stock valued at $14,675,000 after buying an additional 15,683 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Insulet during the 3rd quarter valued at about $150,000. Avior Wealth Management LLC lifted its holdings in Insulet by 22.1% during the 3rd quarter. Avior Wealth Management LLC now owns 2,871 shares of the medical instruments supplier’s stock valued at $668,000 after buying an additional 519 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Insulet by 7.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the medical instruments supplier’s stock valued at $3,019,000 after buying an additional 886 shares in the last quarter.

Insulet Company Profile

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.