Insulet (NASDAQ:PODD) Stock Price Expected to Rise, TD Cowen Analyst Says

Insulet (NASDAQ:PODD - Free Report) had its target price raised by TD Cowen from $264.00 to $324.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier's stock.

PODD has been the subject of a number of other research reports. Sanford C. Bernstein assumed coverage on Insulet in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $300.00 price objective for the company. Morgan Stanley raised their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Insulet from $290.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Finally, Canaccord Genuity Group increased their price objective on Insulet from $269.00 to $304.00 and gave the company a "buy" rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and a consensus target price of $272.81.

Insulet Stock Up 3.7 %

PODD traded up $9.45 during mid-day trading on Friday, reaching $266.30. 465,453 shares of the stock were exchanged, compared to its average volume of 493,177. Insulet has a 1 year low of $160.19 and a 1 year high of $279.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market capitalization of $18.68 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21. The company has a 50 day moving average price of $260.30 and a two-hundred day moving average price of $227.75.

Insider Buying and Selling

In related 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 completion of the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at approximately $1,580,129.46. The trade was 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 accessible through the SEC website. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insulet

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Insulet during the 2nd quarter valued at about $32,000. Commonwealth Equity Services LLC raised its holdings in Insulet by 24.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,531 shares of the medical instruments supplier's stock valued at $3,336,000 after buying an additional 3,272 shares during the last quarter. Natixis Advisors LLC raised its holdings in Insulet by 13.6% during the 2nd quarter. Natixis Advisors LLC now owns 24,607 shares of the medical instruments supplier's stock valued at $4,966,000 after buying an additional 2,955 shares during the last quarter. Rhumbline Advisers grew its holdings in Insulet by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 146,561 shares of the medical instruments supplier's stock worth $29,576,000 after acquiring an additional 757 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Insulet in the second quarter valued at about $9,207,000.

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.