Insulet (NASDAQ:PODD) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
Several other analysts have also commented on PODD. Zacks Investment Research lowered Insulet from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Barclays lifted their price objective on Insulet from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. UBS Group raised Insulet from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Raymond James Financial raised Insulet from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, January 8th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $81.00 price objective (up previously from $60.00) on shares of Insulet in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Insulet presently has an average rating of “Buy” and an average target price of $73.24.
Shares of Insulet (PODD) opened at $80.33 on Friday. The company has a market capitalization of $4,690.55, a price-to-earnings ratio of -174.63 and a beta of 1.56. Insulet has a fifty-two week low of $38.43 and a fifty-two week high of $83.56. The company has a quick ratio of 5.85, a current ratio of 6.24 and a debt-to-equity ratio of 3.57.
In related news, COO Shacey Petrovic sold 1,319 shares of Insulet stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $76.81, for a total transaction of $101,312.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Lemoine sold 641 shares of Insulet stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $76.81, for a total value of $49,235.21. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Insulet by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 276,930 shares of the medical instruments supplier’s stock valued at $19,109,000 after acquiring an additional 10,989 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Insulet in the third quarter valued at about $33,373,000. Bank of New York Mellon Corp lifted its position in shares of Insulet by 6.7% in the third quarter. Bank of New York Mellon Corp now owns 289,027 shares of the medical instruments supplier’s stock valued at $15,919,000 after acquiring an additional 18,111 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Insulet by 14.0% in the third quarter. New York State Common Retirement Fund now owns 71,585 shares of the medical instruments supplier’s stock valued at $3,943,000 after acquiring an additional 8,785 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Insulet in the third quarter valued at about $524,000.
Insulet Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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