Piper Sandler Boosts Insulet (NASDAQ:PODD) Price Target to $360.00

Posted by on May 8th, 2023

Insulet (NASDAQ:PODD – Get Rating) had its price objective boosted by Piper Sandler from $340.00 to $360.00 in a report issued on Friday, The Fly reports.

Other equities research analysts have also issued reports about the stock. Wolfe Research started coverage on shares of Insulet in a report on Thursday, January 26th. They set a peer perform rating on the stock. Morgan Stanley lifted their target price on shares of Insulet from $320.00 to $325.00 and gave the stock an equal weight rating in a research report on Friday, February 24th. StockNews.com initiated coverage on shares of Insulet in a research report on Thursday, March 16th. They set a hold rating on the stock. Stifel Nicolaus lifted their target price on shares of Insulet from $300.00 to $342.00 and gave the stock a hold rating in a research report on Thursday, April 20th. Finally, UBS Group initiated coverage on shares of Insulet in a research report on Tuesday, March 28th. They set a neutral rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $326.92.

Insulet Price Performance

NASDAQ:PODD opened at $328.76 on Friday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 2.65 and a current ratio of 3.60. Insulet has a 52 week low of $181.00 and a 52 week high of $335.91. The firm has a market cap of $22.91 billion, a price-to-earnings ratio of 280.99 and a beta of 0.80. The firm’s 50-day simple moving average is $310.33 and its 200 day simple moving average is $297.08.

Insulet (NASDAQ:PODD – Get Rating) last released its earnings results on Thursday, May 4th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the consensus estimate of $0.09 by $0.14. The firm had revenue of $358.10 million for the quarter, compared to analyst estimates of $330.21 million. Insulet had a net margin of 0.04% and a return on equity of 17.89%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. As a group, sell-side analysts predict that Insulet will post 1.31 earnings per share for the current year.

Insider Activity at Insulet

In related news, CFO Wayde D. Mcmillan sold 1,255 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $318.31, for a total transaction of $399,479.05. Following the transaction, the chief financial officer now owns 22,865 shares in the company, valued at approximately $7,278,158.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Insulet news, CFO Wayde D. Mcmillan sold 1,255 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $318.31, for a total transaction of $399,479.05. Following the transaction, the chief financial officer now owns 22,865 shares in the company, valued at $7,278,158.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles Alpuche sold 4,000 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $290.90, for a total transaction of $1,163,600.00. Following the transaction, the insider now owns 45,584 shares in the company, valued at approximately $13,260,385.60. The disclosure for this sale can be found here. Insiders have sold 32,656 shares of company stock worth $9,819,174 in the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Insulet by 1.0% in the third quarter. Vanguard Group Inc. now owns 6,392,621 shares of the medical instruments supplier’s stock valued at $1,466,468,000 after purchasing an additional 64,742 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Insulet by 38.8% in the first quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock valued at $452,016,000 after purchasing an additional 474,545 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Insulet by 101,333.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,300,377 shares of the medical instruments supplier’s stock valued at $382,818,000 after purchasing an additional 1,299,095 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Insulet by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 956,799 shares of the medical instruments supplier’s stock valued at $281,338,000 after purchasing an additional 30,712 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Insulet by 1.7% in the third quarter. Fred Alger Management LLC now owns 632,051 shares of the medical instruments supplier’s stock valued at $144,992,000 after purchasing an additional 10,308 shares during the last quarter.

About Insulet

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Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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