Insulet (NASDAQ:PODD) Director Michael Minogue Acquires 2,030 Shares of Stock

Insulet Corporation (NASDAQ:PODD) Director Michael Minogue acquired 2,030 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the acquisition, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $251.40 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock has a 50 day moving average price of $269.90 and a 200 day moving average price of $303.94. The stock has a market capitalization of $17.70 billion, a PE ratio of 71.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. Insulet Corporation has a 52 week low of $230.05 and a 52 week high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. Analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Insulet

Several hedge funds and other institutional investors have recently made changes to their positions in PODD. Winnow Wealth LLC purchased a new position in Insulet during the 3rd quarter worth $862,000. Illinois Municipal Retirement Fund increased its stake in shares of Insulet by 41.3% during the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after acquiring an additional 3,514 shares during the period. Machina Capital S.A.S. purchased a new position in Insulet during the third quarter worth about $2,778,000. Campbell & CO Investment Adviser LLC acquired a new stake in Insulet in the second quarter valued at about $1,081,000. Finally, Jump Financial LLC lifted its position in Insulet by 12.0% in the second quarter. Jump Financial LLC now owns 66,170 shares of the medical instruments supplier’s stock valued at $20,789,000 after purchasing an additional 7,070 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PODD shares. UBS Group reissued a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Raymond James Financial decreased their price target on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Zacks Research cut shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wells Fargo & Company lifted their target price on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Wolfe Research increased their price objective on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.57.

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.