Insulet (NASDAQ:PODD) Price Target Increased to $165.00 by Analysts at Canaccord Genuity

Insulet (NASDAQ:PODD) had its price target increased by equities research analysts at Canaccord Genuity from $150.00 to $165.00 in a research note issued on Monday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Canaccord Genuity’s price objective suggests a potential downside of 9.33% from the company’s current price.

A number of other analysts have also recently issued reports on PODD. BidaskClub raised Insulet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 30th. Leerink Swann reaffirmed an “outperform” rating and set a $185.00 price target (up previously from $160.00) on shares of Insulet in a research report on Tuesday, September 24th. Raymond James boosted their price objective on Insulet from $135.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, November 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. Finally, Stifel Nicolaus started coverage on shares of Insulet in a research report on Tuesday, October 22nd. They set a “hold” rating and a $163.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $152.88.

NASDAQ:PODD traded down $1.99 during midday trading on Monday, hitting $181.97. 116,695 shares of the company were exchanged, compared to its average volume of 893,363. Insulet has a fifty-two week low of $70.80 and a fifty-two week high of $187.25. The company has a market capitalization of $11.37 billion, a PE ratio of 3,639.40 and a beta of 1.04. The company has a current ratio of 7.01, a quick ratio of 6.21 and a debt-to-equity ratio of 6.55. The company has a fifty day simple moving average of $166.83 and a 200 day simple moving average of $142.39.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Tuesday, November 5th. The medical instruments supplier reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Insulet had a net margin of 2.38% and a return on equity of 10.34%. The company had revenue of $192.12 million during the quarter, compared to analyst estimates of $179.50 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts expect that Insulet will post 0.26 EPS for the current year.

In other Insulet news, CEO Shacey Petrovic sold 689 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $145.69, for a total value of $100,380.41. Following the transaction, the chief executive officer now directly owns 94,510 shares of the company’s stock, valued at approximately $13,769,161.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Fallon sold 14,525 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $181.21, for a total transaction of $2,632,075.25. 3.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PODD. Advisors Preferred LLC purchased a new position in Insulet during the second quarter worth about $38,000. Harvest Fund Management Co. Ltd acquired a new position in Insulet during the 2nd quarter worth approximately $43,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Insulet during the 2nd quarter worth approximately $97,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Insulet during the 2nd quarter worth approximately $119,000. Finally, Stifel Financial Corp purchased a new position in shares of Insulet during the 3rd quarter worth approximately $204,000.

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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Analyst Recommendations for Insulet (NASDAQ:PODD)

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