Insulet (NASDAQ:PODD) Reaches New 52-Week High at $236.62

Insulet Co. (NASDAQ:PODD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $236.62 and last traded at $233.96, with a volume of 24023 shares. The stock had previously closed at $233.87.

Analysts Set New Price Targets

Several brokerages have commented on PODD. BTIG Research decreased their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group lifted their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Piper Sandler upped their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday. Redburn Atlantic began coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 price objective for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $234.00 price objective on shares of Insulet in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average target price of $229.21.

Insulet Trading Up 0.7 %

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 business’s 50-day simple moving average is $199.93 and its two-hundred day simple moving average is $186.51. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of 71.38, a PEG ratio of 4.31 and a beta of 1.21.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. On average, research analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Insulet

A number of hedge funds have recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in Insulet by 19.7% during the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after purchasing an additional 1,556,455 shares in the last quarter. Norges Bank acquired a new stake in Insulet during the 4th quarter valued at approximately $227,655,000. Marshall Wace LLP acquired a new stake in shares of Insulet during the second quarter worth approximately $99,978,000. Baillie Gifford & Co. increased its stake in shares of Insulet by 30.8% in the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after buying an additional 443,783 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Insulet by 56.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after acquiring an additional 316,649 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.