Analysts Set Insulet Corporation (NASDAQ:PODD) Target Price at $379.00

Shares of Insulet Corporation (NASDAQ:PODD) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $381.75.

PODD has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Truist Financial dropped their target price on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Evercore ISI started coverage on Insulet in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $370.00 price target for the company. Oppenheimer boosted their price objective on Insulet from $324.00 to $365.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. Finally, Royal Bank Of Canada increased their target price on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st.

Insulet Trading Down 0.5%

NASDAQ:PODD opened at $282.92 on Monday. Insulet has a one year low of $230.05 and a one year high of $354.88. The business has a fifty day moving average price of $309.60 and a 200-day moving average price of $312.34. The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of 82.01, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter in the prior year, the business posted $1.08 earnings per share. The business’s quarterly revenue was up 29.9% on a year-over-year basis. Sell-side analysts forecast that Insulet will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Insulet

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Insulet by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after acquiring an additional 87,845 shares in the last quarter. Geode Capital Management LLC lifted its stake in Insulet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after purchasing an additional 58,309 shares in the last quarter. Norges Bank bought a new position in shares of Insulet during the 2nd quarter valued at about $324,689,000. Federated Hermes Inc. grew its position in shares of Insulet by 14.3% during the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock valued at $227,266,000 after purchasing an additional 90,494 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Insulet by 0.5% during the third quarter. Northern Trust Corp now owns 709,180 shares of the medical instruments supplier’s stock valued at $218,945,000 after purchasing an additional 3,618 shares in the last quarter.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.