Insulet (NASDAQ:PODD) Price Target Lowered to $338.00 at Citigroup

Insulet (NASDAQ:PODD) had its target price decreased by stock analysts at Citigroup from $345.00 to $338.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s target price indicates a potential upside of 41.58% from the stock’s previous close.

A number of other analysts have also recently issued reports on PODD. Barclays reaffirmed an “underweight” rating and issued a $286.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Zacks Research downgraded shares of Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Truist Financial lowered their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Oppenheimer cut their price target on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

Insulet Stock Up 0.2%

PODD traded up $0.50 during trading on Wednesday, reaching $238.74. 199,867 shares of the stock were exchanged, compared to its average volume of 1,013,032. The stock’s 50 day moving average price is $261.60 and its two-hundred day moving average price is $298.92. Insulet has a twelve month low of $233.29 and a twelve month high of $354.88. The stock has a market cap of $16.81 billion, a P/E ratio of 68.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81.

Insulet (NASDAQ:PODD) last issued its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the prior year, the firm earned $1.15 EPS. Insulet’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities analysts expect that Insulet will post 3.92 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael R. Minogue purchased 2,030 shares of Insulet stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Insulet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODD. NewEdge Advisors LLC boosted its stake in Insulet by 44.8% in the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 64 shares during the period. Penserra Capital Management LLC bought a new position in shares of Insulet in the 2nd quarter valued at about $67,000. Metis Global Partners LLC raised its position in Insulet by 6.4% during the second quarter. Metis Global Partners LLC now owns 3,842 shares of the medical instruments supplier’s stock valued at $1,207,000 after purchasing an additional 230 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $7,002,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Insulet in the 2nd quarter worth approximately $1,081,000.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.