Insulet (NASDAQ:PODD) Upgraded to “Outperform” by Wolfe Research

Wolfe Research upgraded shares of Insulet (NASDAQ:PODD) from a peer perform rating to an outperform rating in a research report released on Tuesday, Marketbeat Ratings reports. They currently have $200.00 target price on the medical instruments supplier’s stock.

Several other brokerages have also recently issued reports on PODD. Stifel Nicolaus increased their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a hold rating in a research report on Monday, February 5th. Piper Sandler dropped their price target on shares of Insulet from $250.00 to $230.00 and set an overweight rating for the company in a research note on Friday, February 23rd. Barclays decreased their target price on Insulet from $214.00 to $213.00 and set an equal weight rating for the company in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on Insulet from $190.00 to $225.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $240.33.

Insulet Price Performance

Shares of PODD opened at $184.28 on Tuesday. The firm has a 50-day simple moving average of $170.08 and a two-hundred day simple moving average of $181.70. The stock has a market cap of $12.90 billion, a PE ratio of 63.33, a P/E/G ratio of 3.14 and a beta of 1.00. Insulet has a 1-year low of $125.82 and a 1-year high of $331.65. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, analysts forecast that Insulet will post 3.08 EPS for the current year.

Insider Activity at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Insulet

A number of large investors have recently added to or reduced their stakes in PODD. Wolff Wiese Magana LLC raised its holdings in shares of Insulet by 2,680.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Insulet in the 4th quarter valued at about $34,000. Sunbelt Securities Inc. purchased a new position in Insulet in the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust boosted its stake in shares of Insulet by 251.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Insulet by 104.5% in the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 92 shares during 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.