Insulet (NASDAQ:PODD) Shares Up 10.7% After Analyst Upgrade

Insulet Co. (NASDAQ:PODD) shares shot up 10.7% during trading on Friday after BTIG Research raised their price target on the stock from $260.00 to $270.00. BTIG Research currently has a buy rating on the stock. Insulet traded as high as $275.00 and last traded at $271.23. 128,106 shares changed hands during trading, a decline of 83% from the average session volume of 775,372 shares. The stock had previously closed at $244.98.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Barclays upped their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Citigroup increased their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Finally, Raymond James increased their price target on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $246.80.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently made changes to their positions in PODD. Norden Group LLC lifted its holdings in Insulet by 52.4% in the 1st quarter. Norden Group LLC now owns 2,718 shares of the medical instruments supplier’s stock valued at $466,000 after purchasing an additional 934 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Insulet by 34.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,060 shares of the medical instruments supplier’s stock worth $1,724,000 after acquiring an additional 2,573 shares during the last quarter. Nordea Investment Management AB grew its stake in Insulet by 5.4% in the 1st quarter. Nordea Investment Management AB now owns 5,362 shares of the medical instruments supplier’s stock worth $914,000 after acquiring an additional 274 shares during the period. Central Pacific Bank Trust Division acquired a new position in Insulet in the 1st quarter valued at $69,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Insulet by 33.7% during the first quarter. GSA Capital Partners LLP now owns 5,381 shares of the medical instruments supplier’s stock worth $922,000 after purchasing an additional 1,357 shares during the last quarter.

Insulet Stock Performance

The stock has a 50-day moving average price of $230.70 and a 200 day moving average price of $203.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The firm has a market cap of $19.07 billion, a PE ratio of 49.39, a P/E/G ratio of 4.47 and a beta of 1.22.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The company had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Research analysts forecast that Insulet Co. will post 3.04 earnings per share for the current year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.