Truist Financial Issues Pessimistic Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price target cut by equities researchers at Truist Financial from $412.00 to $390.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Truist Financial’s target price points to a potential upside of 31.17% from the stock’s previous close.

PODD has been the topic of a number of other research reports. Wells Fargo & Company lifted their price target on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Wolfe Research lifted their price objective on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price target on Insulet from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Zacks Research raised shares of Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, BTIG Research raised their price objective on Insulet from $370.00 to $380.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

Insulet Trading Up 2.7%

NASDAQ:PODD traded up $7.76 on Thursday, reaching $297.33. The stock had a trading volume of 37,795 shares, compared to its average volume of 723,437. The firm’s fifty day moving average is $317.47 and its two-hundred day moving average is $314.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The company has a market cap of $20.92 billion, a price-to-earnings ratio of 85.92, a P/E/G ratio of 2.03 and a beta of 1.37. Insulet has a 12-month low of $230.05 and a 12-month high of $354.88.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The firm had revenue of $521.70 million for the quarter, compared to analyst estimates of $678.70 million. During the same quarter last year, the business earned $1.08 earnings per share. Insulet’s revenue was up 29.9% compared to the same quarter last year. Equities analysts expect that Insulet will post 3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Kozak & Associates Inc. acquired a new position in shares of Insulet during the second quarter valued at $32,000. Golden State Wealth Management LLC raised its stake in shares of Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 69 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Insulet in the second quarter worth about $35,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 43 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.