Morgan Stanley Boosts Insulet (NASDAQ:PODD) Price Target to $127.00

Insulet (NASDAQ:PODD) had its price objective hoisted by Morgan Stanley from $98.00 to $127.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently weighed in on PODD. JPMorgan Chase & Co. downgraded shares of Sogou from a neutral rating to an underweight rating and decreased their price target for the company from $5.50 to $4.12 in a research note on Thursday, June 27th. Svb Leerink reaffirmed an outperform rating on shares of Stryker in a research note on Wednesday, July 10th. Canaccord Genuity decreased their price target on shares of Jamieson Wellness from C$23.00 to C$20.00 in a research note on Monday, May 6th. Northland Securities reaffirmed a buy rating and issued a $6.00 price target on shares of EMCORE in a research note on Monday, June 10th. Finally, Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the company a buy rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $113.45.

PODD stock opened at $121.17 on Tuesday. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 2,423.40 and a beta of 1.12. The company has a current ratio of 4.36, a quick ratio of 3.71 and a debt-to-equity ratio of 2.68. Insulet has a 12-month low of $70.80 and a 12-month high of $124.38. The firm has a fifty day moving average price of $117.11.



Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The firm had revenue of $159.56 million during the quarter, compared to the consensus estimate of $154.66 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue was up 29.1% compared to the same quarter last year. Equities analysts anticipate that Insulet will post 0.27 earnings per share for the current year.

In other news, Director David A. Lemoine sold 8,752 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $106.92, for a total transaction of $935,763.84. Following the completion of the sale, the director now directly owns 9,148 shares of the company’s stock, valued at $978,104.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shacey Petrovic sold 895 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $113.00, for a total transaction of $101,135.00. Following the sale, the insider now directly owns 95,559 shares of the company’s stock, valued at $10,798,167. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,894 shares of company stock valued at $4,524,025. 3.50% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of PODD. Norges Bank bought a new stake in shares of Insulet during the fourth quarter worth about $53,604,000. William Blair Investment Management LLC increased its position in shares of Insulet by 15.7% during the first quarter. William Blair Investment Management LLC now owns 2,144,988 shares of the medical instruments supplier’s stock worth $203,967,000 after acquiring an additional 290,790 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Insulet by 12.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,958,736 shares of the medical instruments supplier’s stock worth $186,256,000 after acquiring an additional 214,033 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Insulet by 17.6% during the first quarter. Artisan Partners Limited Partnership now owns 1,391,041 shares of the medical instruments supplier’s stock worth $132,274,000 after acquiring an additional 207,780 shares in the last quarter. Finally, KAMES CAPITAL plc increased its position in shares of Insulet by 22.7% during the first quarter. KAMES CAPITAL plc now owns 582,252 shares of the medical instruments supplier’s stock worth $55,372,000 after acquiring an additional 107,828 shares in the last quarter.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

Read More: What is cost of equity?

Analyst Recommendations for Insulet (NASDAQ:PODD)

Receive News & Ratings for Insulet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insulet and related companies with MarketBeat.com's FREE daily email newsletter.