Canaccord Genuity Group Increases Insulet (NASDAQ:PODD) Price Target to $304.00

Insulet (NASDAQ:PODD) had its price target boosted by Canaccord Genuity Group from $269.00 to $304.00 in a research note released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical instruments supplier’s stock.

PODD has been the topic of several other research reports. Raymond James raised their price target on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their price target on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BTIG Research upped their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Barclays upped their target price on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.88.

Insulet Price Performance

PODD opened at $273.47 on Monday. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The company’s 50-day moving average price is $249.75 and its 200 day moving average price is $219.03. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $279.40. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth ratio of 4.06 and a beta of 1.21.

Insider Activity

In other Insulet news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Insulet during the second quarter worth approximately $32,000. Venturi Wealth Management LLC grew its position in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. UMB Bank n.a. increased its stake in Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 81 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Insulet in the 2nd quarter worth approximately $52,000.

Insulet Company Profile

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.