Insulet (NASDAQ:PODD) Price Target Raised to $324.00

Insulet (NASDAQ:PODD) had its target price hoisted by TD Cowen from $264.00 to $324.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. TD Cowen’s target price indicates a potential upside of 22.90% from the stock’s current price.

A number of other equities research analysts also recently issued reports on PODD. Canaccord Genuity Group boosted their price target on shares of Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays raised their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their price target on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, BTIG Research raised their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three 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, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $272.81.

Insulet Stock Performance

PODD traded up $6.77 on Friday, reaching $263.62. 57,151 shares of the stock were exchanged, compared to its average volume of 285,654. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $279.77. The firm has a market capitalization of $18.49 billion, a PE ratio of 45.14, a PEG ratio of 4.12 and a beta of 1.21. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company’s 50-day moving average price is $259.65 and its 200 day moving average price is $227.28.

Insider Buying and Selling

In other news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction 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 directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its stake in Insulet by 1.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after purchasing an additional 42 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Insulet by 2.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after acquiring an additional 47 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Insulet by 3.5% in the 3rd quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier’s stock worth $326,000 after acquiring an additional 48 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Insulet by 4.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock worth $250,000 after purchasing an additional 48 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter.

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.