Insulet (NASDAQ:PODD) Trading Up 10.7% on Analyst Upgrade

Insulet Co. (NASDAQ:PODD - Get Free Report)'s share price was up 10.7% during mid-day trading on Friday after BTIG Research raised their price target on the stock from $260.00 to $270.00. BTIG Research currently has a buy rating on the stock. Insulet traded as high as $275.00 and last traded at $271.23. Approximately 128,106 shares were traded during trading, a decline of 83% from the average daily volume of 775,372 shares. The stock had previously closed at $244.98.

A number of other equities research analysts have also weighed in on PODD. UBS Group boosted their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research report on Wednesday. They set an "outperform" rating and a $300.00 price target for the company. Piper Sandler lifted their price objective on Insulet from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, September 17th. Citigroup boosted their price objective on Insulet from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group lifted their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $246.80.

Institutional Trading of Insulet

A number of hedge funds have recently modified their holdings of the business. Wedmont Private Capital lifted its position in Insulet by 3.5% during the 3rd quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier's stock valued at $326,000 after acquiring an additional 48 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Insulet by 4.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier's stock valued at $250,000 after purchasing an additional 48 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Insulet by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier's stock worth $1,264,000 after purchasing an additional 66 shares in the last quarter. Finally, Greenleaf Trust grew its stake in shares of Insulet by 4.2% in the 3rd quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier's stock worth $415,000 after buying an additional 72 shares during the last quarter.

Insulet Trading Up 9.4 %

The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The stock has a 50-day moving average of $232.01 and a two-hundred day moving average of $203.96. The company has a market cap of $18.79 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 4.47 and a beta of 1.22.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $488.50 million during the quarter, compared to analysts' expectations of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. Insulet's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. On average, equities research analysts predict that Insulet Co. will post 3.04 earnings per share for the current year.

Insulet Company Profile

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.