UBS Group downgraded shares of Insulet (NASDAQ:PODD) from a buy rating to a neutral rating in a research report sent to investors on Friday, BenzingaRatingsTable reports. The firm currently has $160.00 price target on the medical instruments supplier’s stock, up from their previous price target of $155.00. The analysts noted that the move was a valuation call.
Other analysts have also issued research reports about the company. Raymond James increased their price objective on Insulet from $125.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Svb Leerink increased their price objective on Insulet from $160.00 to $185.00 and gave the company an outperform rating in a report on Tuesday, September 24th. BMO Capital Markets increased their price objective on Insulet from $130.00 to $150.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Guggenheim downgraded Insulet from a buy rating to a neutral rating in a research report on Thursday. They noted that the move was a valuation call. Finally, Canaccord Genuity upped their target price on Insulet from $110.00 to $135.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $144.64.
Shares of PODD traded down $3.09 during midday trading on Friday, hitting $155.60. 764,953 shares of the company’s stock traded hands, compared to its average volume of 747,392. Insulet has a 1 year low of $70.80 and a 1 year high of $168.98. The firm’s fifty day moving average is $154.29 and its 200-day moving average is $120.59. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 3,112.00 and a beta of 1.02.
In other Insulet news, SVP Michael P. Spears sold 4,153 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.12, for a total transaction of $606,836.36. Following the sale, the senior vice president now directly owns 22,626 shares of the company’s stock, valued at approximately $3,306,111.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shacey Petrovic sold 649 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total value of $98,907.60. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC acquired a new stake in Insulet during the 2nd quarter worth about $38,000. Harvest Fund Management Co. Ltd acquired a new stake in Insulet during the 2nd quarter worth about $43,000. Meridian Wealth Management LLC acquired a new stake in Insulet during the 1st quarter worth about $48,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Insulet during the 2nd quarter worth about $97,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Insulet during the 2nd quarter worth about $119,000.
Insulet Company Profile
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.
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