Insulet (NASDAQ:PODD) Price Target Raised to $317.00

Insulet (NASDAQ:PODD) had its target price increased by Morgan Stanley from $234.00 to $317.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

A number of other analysts have also weighed in on PODD. UBS Group raised their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Canaccord Genuity Group boosted their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein began coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. BTIG Research boosted their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.27.

Insulet Stock Down 2.2 %

Shares of PODD opened at $269.06 on Monday. The business’s 50 day simple moving average is $235.96 and its 200-day simple moving average is $206.47. Insulet has a one year low of $160.19 and a one year high of $279.40. The company has a market capitalization of $18.87 billion, a P/E ratio of 46.07, a PEG ratio of 4.26 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares in the last quarter. Clearbridge Investments LLC grew its stake in Insulet by 6.0% in the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after acquiring an additional 75,526 shares during the period. American Century Companies Inc. increased its holdings in shares of Insulet by 18.7% in the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after acquiring an additional 139,246 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after acquiring an additional 163,388 shares in the last quarter.

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.