Insulet (NASDAQ:PODD) Given New $350.00 Price Target at Stifel Nicolaus

Insulet (NASDAQ:PODD) had its price objective cut by investment analysts at Stifel Nicolaus from $370.00 to $350.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 39.32% from the company’s current price.

A number of other analysts have also recently commented on the company. Evercore ISI assumed coverage on Insulet in a research report on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price target for the company. Raymond James Financial raised their price objective on Insulet from $366.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Truist Financial dropped their target price on Insulet from $412.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Barclays raised their price target on shares of Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Leerink Partners lifted their price objective on shares of Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $374.10.

Insulet Price Performance

Shares of PODD stock opened at $251.22 on Wednesday. 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. The firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of 72.82, a PEG ratio of 1.45 and a beta of 1.41. The stock’s 50-day simple moving average is $288.38 and its 200-day simple moving average is $308.85.

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

Hedge Funds Weigh In On Insulet

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Insulet during the second quarter valued at $324,689,000. Qube Research & Technologies Ltd purchased a new stake in shares of Insulet during the 2nd quarter worth about $131,439,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Insulet during the 2nd quarter valued at about $80,082,000. Squarepoint Ops LLC increased its stake in shares of Insulet by 11,905.8% in the 3rd quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier’s stock valued at $70,165,000 after purchasing an additional 225,377 shares in the last quarter. Finally, Munro Partners increased its stake in shares of Insulet by 1,483.0% in 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 in the last quarter.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.