Insulet (NASDAQ:PODD) Now Covered by Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Insulet (NASDAQ:PODD - Free Report) in a research note published on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $300.00 price objective on the medical instruments supplier's stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group upped their price objective 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 boosted their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 17th. BTIG Research increased their price target on Insulet from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Raymond James boosted their price objective on Insulet from $213.00 to $260.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Finally, Citigroup increased their target price on Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Insulet has a consensus rating of "Moderate Buy" and a consensus target price of $246.13.

Insulet Price Performance

NASDAQ PODD traded down $2.02 on Wednesday, hitting $239.30. 932,689 shares of the company's stock were exchanged, compared to its average volume of 778,367. Insulet has a 52 week low of $151.56 and a 52 week high of $248.55. The stock has a 50-day moving average of $229.21 and a 200-day moving average of $202.69. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 4.43 and a beta of 1.22.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the business earned $0.38 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. Analysts expect that Insulet will post 3.04 earnings per share for the current year.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock valued at $30,000 after buying an additional 58 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Insulet in the 2nd quarter valued at about $32,000. Venturi Wealth Management LLC boosted its position in shares of Insulet by 633.3% during the 3rd 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. grew its stake in Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier's stock worth $37,000 after purchasing an additional 81 shares during the period. Finally, CVA Family Office LLC increased 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 worth $50,000 after purchasing an additional 145 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.