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

Insulet Co. (NASDAQ:PODD)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $282.86 and last traded at $279.51, with a volume of 68735 shares traded. The stock had previously closed at $275.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Morgan Stanley upped their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Raymond James lifted their target price on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, BTIG Research raised their price objective 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 stock. According to MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $272.81.

Insulet Stock Up 1.0 %

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 company has a market capitalization of $19.56 billion, a PE ratio of 47.76, a PEG ratio of 3.47 and a beta of 1.22. The company’s 50 day moving average is $266.52 and its two-hundred day moving average is $234.38.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.13. The firm had revenue of $543.90 million during the quarter, compared to analyst estimates of $518.50 million. Insulet had a return on equity of 27.98% and a net margin of 21.22%. During the same quarter last year, the business posted $0.71 earnings per share. On average, analysts anticipate that Insulet Co. will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lauren Budden sold 915 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction 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. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several large investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in Insulet by 20.7% during 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. Geode Capital Management LLC lifted its holdings in shares of Insulet by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock worth $403,339,000 after acquiring an additional 22,850 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Insulet by 6.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after purchasing an additional 75,526 shares during the period. Westfield Capital Management Co. LP grew its holdings in Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after purchasing an additional 163,388 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after purchasing an additional 193,839 shares during the period.

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.