Insulet (NASDAQ:PODD) PT Raised to $269.00 at Canaccord Genuity Group

Insulet (NASDAQ:PODD) had its price objective raised by equities researchers at Canaccord Genuity Group from $236.00 to $269.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 14.26% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Redburn Atlantic started coverage on Insulet in a research report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective on the stock. UBS Group upped their price target on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. BTIG Research reduced their price target on shares of Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. OTR Global reissued a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Finally, Barclays upped their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.71.

Insulet Trading Down 1.4 %

Shares of PODD opened at $235.43 on Wednesday. The company’s fifty day simple moving average is $206.07 and its 200-day simple moving average is $190.01. The company has a market cap of $16.51 billion, a P/E ratio of 71.34, a P/E/G ratio of 4.47 and a beta of 1.21. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. Insulet has a twelve month low of $125.82 and a twelve month high of $243.98.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, analysts expect that Insulet will post 3.04 EPS for the current year.

Institutional Trading of Insulet

A number of institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Insulet during the first quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Insulet in the 2nd quarter worth $32,000. UMB Bank n.a. grew its stake in Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 81 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Insulet during the 4th quarter valued at about $40,000. Finally, CVA Family Office LLC raised its stake in Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 145 shares during the last quarter.

Insulet Company Profile

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.