Insulet (NASDAQ:PODD) Given New $266.00 Price Target at Barclays

Insulet (NASDAQ:PODD) had its target price hoisted by Barclays from $234.00 to $266.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the medical instruments supplier’s stock.

Several other research analysts also recently commented on PODD. Citigroup lifted their price objective on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. TD Cowen boosted their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada began coverage on shares of Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $293.94.

Insulet Stock Performance

NASDAQ:PODD opened at $252.29 on Wednesday. Insulet has a twelve month low of $160.19 and a twelve month 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 stock has a market cap of $17.72 billion, a P/E ratio of 43.57, a PEG ratio of 3.62 and a beta of 1.30. The business’s 50-day moving average price is $258.37 and its two-hundred day moving average price is $261.95.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS 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 for the quarter, compared to analyst estimates of $582.02 million. As a group, equities analysts predict that Insulet will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the sale, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Insulet during the fourth quarter valued at approximately $248,806,000. GAMMA Investing LLC lifted its holdings in shares of Insulet by 27,298.6% during the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after buying an additional 661,717 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Insulet in the 4th quarter worth $69,433,000. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Insulet in the fourth quarter worth $53,184,000. Finally, Artisan Partners Limited Partnership increased its position in Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after acquiring an additional 149,524 shares during 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.