Morgan Stanley Raises Insulet (NASDAQ:PODD) Price Target to $317.00

Insulet (NASDAQ:PODD - Get Free Report) had its price target boosted by equities research analysts at Morgan Stanley from $234.00 to $317.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical instruments supplier's stock. Morgan Stanley's price target points to a potential upside of 14.20% from the company's previous close.

Several other equities research analysts also recently weighed in on PODD. UBS Group increased their price objective on Insulet from $211.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Citigroup raised their price objective on Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Raymond James upped their price objective on Insulet from $213.00 to $260.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Piper Sandler lifted their price objective on Insulet from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday, September 17th. Finally, Canaccord Genuity Group lifted their target price on Insulet from $236.00 to $269.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Insulet presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.27.

Insulet Price Performance

Shares of Insulet stock traded up $9.58 during mid-day trading on Monday, reaching $277.58. 581,346 shares of the stock traded hands, compared to its average volume of 781,155. The business has a 50-day moving average of $232.01 and a 200 day moving average of $204.48. The stock has a market capitalization of $19.46 billion, a PE ratio of 47.23, a PEG ratio of 5.00 and a beta of 1.22. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. Insulet has a fifty-two week low of $156.00 and a fifty-two week high of $279.40.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.29% and a net margin of 21.22%. The firm had revenue of $488.50 million for the quarter, compared to analysts' expectations of $488.00 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company's quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Insulet will post 3.1 EPS for the current year.

Hedge Funds Weigh In On Insulet

Large investors have recently made changes to their positions in the company. Diversified Trust Co boosted its position in Insulet by 90.9% in the second quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier's stock valued at $1,842,000 after buying an additional 4,348 shares in the last quarter. Intech Investment Management LLC raised its stake in Insulet by 113.8% during the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier's stock worth $1,140,000 after buying an additional 3,539 shares during the period. Natixis bought a new stake in Insulet during the 1st quarter valued at $3,610,000. Seven Eight Capital LP acquired a new position in Insulet during the 1st quarter valued at about $1,418,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Insulet by 246.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,547 shares of the medical instruments supplier's stock valued at $23,168,000 after acquiring an additional 96,390 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.