Canaccord Genuity Group Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price objective upped by Canaccord Genuity Group from $399.00 to $428.00 in a research report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical instruments supplier’s stock.

PODD has been the topic of a number of other research reports. BTIG Research reiterated a “buy” rating and set a $370.00 price target on shares of Insulet in a research report on Thursday. Raymond James Financial increased their target price on Insulet from $360.00 to $366.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen raised shares of Insulet from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company upped their price objective on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Insulet in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.76.

Insulet Stock Performance

Insulet stock traded down $3.58 during midday trading on Friday, hitting $319.82. 677,166 shares of the company were exchanged, compared to its average volume of 721,278. The business has a fifty day simple moving average of $325.06 and a two-hundred day simple moving average of $309.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The firm has a market capitalization of $22.51 billion, a PE ratio of 97.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.39. Insulet has a fifty-two week low of $230.05 and a fifty-two week high of $353.50.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The company had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. Insulet had a return on equity of 23.78% and a net margin of 10.01%.Insulet’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Insulet has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Insulet will post 3.92 earnings per share for the current year.

Insider Activity at Insulet

In other news, SVP Laetitia Cousin sold 797 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $348.81, for a total value of $278,001.57. Following the completion of the sale, the senior vice president directly owned 3,890 shares in the company, valued at $1,356,870.90. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prem Singh sold 687 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $347.49, for a total value of $238,725.63. Following the transaction, the senior vice president directly owned 3,456 shares in the company, valued at $1,200,925.44. This trade represents a 16.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Insulet

Several hedge funds and other institutional investors have recently bought and sold shares of PODD. Crossmark Global Holdings Inc. raised its position in Insulet by 3.4% in the first quarter. Crossmark Global Holdings Inc. now owns 3,036 shares of the medical instruments supplier’s stock valued at $797,000 after purchasing an additional 100 shares during the period. Banque Pictet & Cie SA increased its stake in shares of Insulet by 129.9% during the first quarter. Banque Pictet & Cie SA now owns 2,529 shares of the medical instruments supplier’s stock worth $664,000 after buying an additional 1,429 shares during the period. Nisa Investment Advisors LLC lifted its stake in Insulet by 69.7% in the first quarter. Nisa Investment Advisors LLC now owns 7,445 shares of the medical instruments supplier’s stock worth $1,955,000 after acquiring an additional 3,057 shares during the last quarter. Cerity Partners LLC increased its position in shares of Insulet by 28.7% in the 1st quarter. Cerity Partners LLC now owns 10,232 shares of the medical instruments supplier’s stock valued at $2,687,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Genus Capital Management Inc. raised its holdings in shares of Insulet by 202.4% in the 1st quarter. Genus Capital Management Inc. now owns 17,008 shares of the medical instruments supplier’s stock valued at $4,466,000 after purchasing an additional 33,611 shares in the last quarter.

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.