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

by · The Markets Daily

Insulet (NASDAQ:PODD – Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from $236.00 to $269.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 14.26% from the company’s current price.

Several other research analysts have also recently issued reports on PODD. UBS Group raised their target price 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 decreased their price objective on Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Barclays lifted their price target on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Piper Sandler upped their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average price target of $231.71.

Read Our Latest Analysis on Insulet

Insulet Stock Performance

Shares of PODD stock opened at $235.43 on Wednesday. The business has a fifty day moving average of $206.07 and a 200 day moving average of $190.01. Insulet has a 1 year low of $125.82 and a 1 year high of $243.98. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 71.34, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD – Get Free Report) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS 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 for the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Insulet will post 3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Insulet during the second quarter worth about $32,000. Sunbelt Securities Inc. purchased a new stake in shares of Insulet in the 1st quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings in shares of 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 purchased a new stake in shares of Insulet during the 4th quarter valued at approximately $40,000. Finally, CVA Family Office LLC lifted its holdings 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 acquiring an additional 145 shares during the last quarter.

About Insulet

(Get Free Report)

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.

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