Insulet (NASDAQ:PODD) Price Target Increased to $269.00 by Analysts at Canaccord Genuity Group

Insulet (NASDAQ:PODD - Get Free Report) had its price objective boosted by stock analysts at Canaccord Genuity Group from $236.00 to $269.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. Canaccord Genuity Group's price objective suggests a potential upside of 12.65% from the company's previous close.

A number of other brokerages have also issued reports on PODD. OTR Global restated a "mixed" rating on shares of Insulet in a research note on Monday, June 10th. Barclays increased their target price on Insulet from $200.00 to $220.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. Redburn Atlantic started coverage on Insulet in a research report on Thursday, May 30th. They set a "buy" rating and a $235.00 price target on the stock. UBS Group boosted their target price on shares of Insulet from $211.00 to $223.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. Finally, BTIG Research reduced their price target on shares of Insulet from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Insulet has a consensus rating of "Moderate Buy" and an average target price of $231.71.

Insulet Stock Down 0.1 %

Shares of Insulet stock traded down $0.21 during trading hours on Wednesday, hitting $238.80. 376,548 shares of the company's stock traded hands, compared to its average volume of 830,138. 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 twelve month low of $125.82 and a twelve month high of $243.98. The stock has a 50 day simple moving average of $204.43 and a 200-day simple moving average of $189.34. The company has a market cap of $16.74 billion, a PE ratio of 72.36, a PEG ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $488.50 million for 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%. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Insulet's revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Insulet will post 3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Insulet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in shares of Insulet during the first quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in Insulet in the 2nd quarter valued at about $32,000. UMB Bank n.a. boosted its position in shares of Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier's stock valued at $37,000 after purchasing an additional 81 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Insulet in the 4th quarter worth approximately $40,000. Finally, CVA Family Office LLC raised its holdings in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier's stock worth $50,000 after purchasing an additional 145 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.