Insulet (NASDAQ:PODD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Insulet (NASDAQ:PODD) had its target price raised by equities research analysts at Wells Fargo & Company from $290.00 to $305.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 12.24% from the company’s previous close.

Several other research firms have also recently issued reports on PODD. Barclays raised their price target on shares of Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 target price for the company. Canaccord Genuity Group increased their price target on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Citigroup raised their price target on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average price target of $267.44.

Insulet Stock Performance

NASDAQ PODD opened at $271.73 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet has a fifty-two week low of $160.19 and a fifty-two week high of $279.77. The business has a fifty day moving average of $250.58 and a 200-day moving average of $219.40. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 4.06 and a beta of 1.21.

Insider Activity at Insulet

In other Insulet news, CAO Lauren Budden sold 915 shares of the 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 completion of the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Synovus Financial Corp lifted its holdings in Insulet by 36.1% in the 3rd quarter. Synovus Financial Corp now owns 2,929 shares of the medical instruments supplier’s stock worth $682,000 after buying an additional 777 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Insulet by 5.2% in the third quarter. Tidal Investments LLC now owns 9,365 shares of the medical instruments supplier’s stock worth $2,180,000 after acquiring an additional 466 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Insulet in the third quarter valued at about $114,000. Virtu Financial LLC acquired a new stake in Insulet during the 3rd quarter valued at approximately $616,000. Finally, TD Private Client Wealth LLC increased its holdings in Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares during 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.