Insulet (NASDAQ:PODD) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of Insulet (NASDAQ:PODD) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $370.00 price objective on the medical instruments supplier’s stock.

PODD has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Zacks Research raised shares of Insulet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. BTIG Research boosted their target price on shares of Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Sanford C. Bernstein restated an “outperform” rating on shares of Insulet in a research note on Friday, November 21st. Finally, The Goldman Sachs Group upped their price objective on Insulet from $375.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $380.05.

Insulet Stock Up 0.3%

PODD stock opened at $289.57 on Tuesday. The stock has a market capitalization of $20.37 billion, a P/E ratio of 83.93, a P/E/G ratio of 2.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. Insulet has a 1-year low of $230.05 and a 1-year high of $354.88. The business has a fifty day moving average price of $317.47 and a 200-day moving average price of $314.16.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The company 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 posted $1.08 earnings per share. Insulet’s revenue was up 29.9% compared to the same quarter last year. Equities analysts forecast that Insulet will post 3.92 earnings per share for the current fiscal year.

Institutional Trading of Insulet

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Insulet in the 2nd quarter worth $324,689,000. Qube Research & Technologies Ltd purchased a new position in shares of Insulet in the second quarter valued at about $131,439,000. Worldquant Millennium Advisors LLC bought a new position in shares of Insulet in the second quarter worth about $80,082,000. Squarepoint Ops LLC grew its position in shares of 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 raised its stake in Insulet by 1,483.0% during the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after purchasing 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.