BTIG Research Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD - Get Free Report) had its price target boosted by stock analysts at BTIG Research from $260.00 to $270.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. BTIG Research's target price would suggest a potential upside of 0.75% from the stock's current price.

A number of other brokerages have also weighed in on PODD. Citigroup increased their target price on Insulet from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. UBS Group lifted their target price on Insulet from $211.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Canaccord Genuity Group upped their price target on shares of Insulet from $236.00 to $269.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Piper Sandler raised their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 17th. Finally, Raymond James boosted their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Insulet has an average rating of "Moderate Buy" and an average target price of $246.80.

Insulet Stock Performance

Shares of PODD traded up $23.02 during trading hours on Friday, hitting $268.00. The company had a trading volume of 1,582,910 shares, compared to its average volume of 782,076. The business has a fifty day moving average of $230.70 and a 200-day moving average of $203.24. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 4.47 and a beta of 1.22. Insulet has a 12 month low of $151.56 and a 12 month high of $275.52.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm's revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Insulet will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Insulet

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

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.