Insulet (NASDAQ:PODD) Price Target Cut to $240.00 by Analysts at Evercore

Insulet (NASDAQ:PODD) had its price objective decreased by Evercore from $340.00 to $240.00 in a research note released on Monday morning,MarketScreener reports. Evercore currently has an outperform rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently issued reports on the company. Barclays reaffirmed an “underweight” rating and set a $286.00 price objective on shares of Insulet in a report on Thursday, February 19th. Truist Financial reduced their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Sanford C. Bernstein reduced their price objective on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Leerink Partners reduced their price objective on Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $344.33.

Insulet Stock Down 1.1%

PODD opened at $201.19 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The business has a 50 day simple moving average of $236.88 and a 200-day simple moving average of $282.89. The stock has a market capitalization of $14.16 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.22 and a beta of 1.47. Insulet has a 12 month low of $198.10 and a 12 month high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities analysts anticipate that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In related news, Director Michael R. Minogue purchased 2,030 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insulet

A number of institutional investors have recently made changes to their positions in PODD. Larson Financial Group LLC increased its stake in Insulet by 114.6% in the fourth quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Insulet in the fourth quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in Insulet in the fourth quarter valued at $28,000. DV Equities LLC acquired a new position in Insulet in the fourth quarter valued at $28,000. Finally, MV Capital Management Inc. acquired a new position in Insulet in the fourth quarter valued at $29,000.

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.