Insulet (NASDAQ:PODD) Hits New 52-Week High - Should You Buy?

Insulet Co. (NASDAQ:PODD - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $287.00 and last traded at $281.67, with a volume of 28197 shares changing hands. The stock had previously closed at $278.48.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on Insulet from $269.00 to $304.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price target on Insulet from $290.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Citigroup boosted their price objective on shares of Insulet from $283.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, BTIG Research lifted their price objective on shares of Insulet from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $277.13.

Insulet Trading Down 1.6 %

The company's 50 day simple moving average is $270.27 and its two-hundred day simple moving average is $241.25. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 48.47, a P/E/G ratio of 3.61 and a beta of 1.23.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.13. The business had revenue of $543.90 million during the quarter, compared to the consensus estimate of $518.50 million. Insulet had a return on equity of 27.98% and a net margin of 21.22%. During the same quarter last year, the company earned $0.71 earnings per share. As a group, research analysts anticipate that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company's stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares of the company's stock, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Institutional Trading of Insulet

A number of hedge funds and other institutional investors have recently made changes to their positions in PODD. Sanctuary Advisors LLC acquired a new stake in Insulet during the 2nd quarter worth about $830,000. Czech National Bank boosted its stake in shares of Insulet by 7.0% during the 3rd quarter. Czech National Bank now owns 14,283 shares of the medical instruments supplier's stock worth $3,324,000 after acquiring an additional 937 shares in the last quarter. Mather Group LLC. grew its position in shares of Insulet by 74.0% during the 3rd quarter. Mather Group LLC. now owns 816 shares of the medical instruments supplier's stock valued at $190,000 after acquiring an additional 347 shares during the period. CWM LLC raised its holdings in Insulet by 3.4% in the 3rd quarter. CWM LLC now owns 3,984 shares of the medical instruments supplier's stock worth $927,000 after purchasing an additional 132 shares during the period. Finally, Wedmont Private Capital boosted its position in Insulet by 3.5% during the third quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier's stock worth $326,000 after purchasing an additional 48 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.