A number of other analysts have also recently issued reports on the company. Leerink Swann reissued an outperform rating and set a $185.00 target price (up from $160.00) on shares of Insulet in a research note on Tuesday, September 24th. Guggenheim cut Insulet from a buy rating to a neutral rating in a research note on Thursday, October 3rd. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Insulet from $130.00 to $150.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. Piper Jaffray Companies reissued a buy rating on shares of Insulet in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. raised Insulet from a neutral rating to an overweight rating and increased their target price for the stock from $120.00 to $155.00 in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $147.69.
NASDAQ PODD traded up $2.86 during trading hours on Wednesday, reaching $149.35. 503,500 shares of the company’s stock were exchanged, compared to its average volume of 744,547. The company’s 50-day moving average is $154.82 and its two-hundred day moving average is $126.04. Insulet has a one year low of $70.80 and a one year high of $168.98. The company has a debt-to-equity ratio of 2.43, a quick ratio of 3.91 and a current ratio of 4.72. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 2,987.00 and a beta of 1.02.
In other news, CEO Shacey Petrovic sold 649 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $152.40, for a total value of $98,907.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael P. Spears sold 4,153 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.12, for a total value of $606,836.36. Following the completion of 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 disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jag Capital Management LLC acquired a new stake in shares of Insulet during the third quarter worth $10,546,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Insulet during the third quarter worth $8,197,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Insulet during the third quarter worth $990,000. Brinker Capital Inc. increased its position in shares of Insulet by 1.4% in the third quarter. Brinker Capital Inc. now owns 5,230 shares of the medical instruments supplier’s stock worth $863,000 after purchasing an additional 73 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Insulet by 6.8% in the third quarter. Stephens Investment Management Group LLC now owns 158,735 shares of the medical instruments supplier’s stock worth $26,180,000 after purchasing an additional 10,039 shares during the period.
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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