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 note published on Tuesday, Marketbeat reports. Wolfe Research currently has $200.00 price objective on the medical instruments supplier’s stock.

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

Insulet Price Performance

Shares of Insulet stock opened at $184.28 on Tuesday. The firm has a fifty day moving average price of $170.08 and a two-hundred day moving average price of $181.70. Insulet has a fifty-two week low of $125.82 and a fifty-two week 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. The company has a market cap of $12.90 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, topping 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 business had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. During the same period last year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Analysts expect that Insulet will post 3.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Insulet

Several institutional investors have recently modified their holdings of PODD. Qube Research & Technologies Ltd increased its position in shares of Insulet by 227.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after buying an additional 268,553 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Insulet by 119.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 79,375 shares of the medical instruments supplier’s stock worth $17,223,000 after acquiring an additional 43,147 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Insulet by 33.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 36,677 shares of the medical instruments supplier’s stock worth $8,048,000 after purchasing an additional 9,240 shares during the period. Graham Capital Management L.P. raised its position in shares of Insulet by 689.8% during the third quarter. Graham Capital Management L.P. now owns 23,095 shares of the medical instruments supplier’s stock worth $3,683,000 after purchasing an additional 20,171 shares during the period. Finally, Aquila Investment Management LLC acquired a new position in shares of Insulet in the 4th quarter valued at approximately $1,302,000.

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.