Insulet (NASDAQ:PODD) Price Target Raised to $450.00 at Canaccord Genuity Group

Insulet (NASDAQ:PODD) had its target price raised by Canaccord Genuity Group from $432.00 to $450.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 55.85% from the company’s previous close.

Several other analysts have also commented on the company. Barclays raised their price objective on Insulet from $300.00 to $301.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Wells Fargo & Company boosted their price target on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. UBS Group upgraded shares of Insulet from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $355.00 to $400.00 in a research report on Wednesday, November 19th. Rothschild & Co Redburn lifted their target price on shares of Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Zacks Research raised Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $380.05.

Insulet Trading Down 1.0%

Shares of Insulet stock opened at $288.73 on Wednesday. The firm has a 50-day simple moving average of $317.99 and a two-hundred day simple moving average of $314.34. The company has a market cap of $20.31 billion, a P/E ratio of 83.69, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. Insulet has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. During the same period last year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Insulet

A number of institutional investors have recently made changes to their positions in PODD. Norges Bank acquired a new position in shares of Insulet in the 2nd quarter worth approximately $324,689,000. Qube Research & Technologies Ltd purchased a new stake in Insulet in the second quarter valued at approximately $131,439,000. Worldquant Millennium Advisors LLC acquired a new position in Insulet during the second quarter worth $80,082,000. Squarepoint Ops LLC lifted its stake in Insulet by 11,905.8% during the third quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier’s stock worth $70,165,000 after purchasing an additional 225,377 shares in the last quarter. Finally, Munro Partners boosted its position in shares of Insulet by 1,483.0% during the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock worth $70,156,000 after buying an additional 212,885 shares during the period.

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.