Michael Minogue Purchases 2,030 Shares of Insulet (NASDAQ:PODD) Stock

Insulet Corporation (NASDAQ:PODD) Director Michael Minogue purchased 2,030 shares of Insulet stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, with a total value of $499,846.90. Following the acquisition, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Insulet Stock Down 1.9%

Insulet stock opened at $246.61 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock has a market capitalization of $17.36 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The business has a 50 day simple moving average of $268.21 and a 200-day simple moving average of $303.18. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The firm had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. On average, analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PODD. Winnow Wealth LLC acquired a new stake in shares of Insulet during the 3rd quarter worth about $862,000. Illinois Municipal Retirement Fund boosted its stake in Insulet by 41.3% during the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after buying an additional 3,514 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Insulet during the third quarter valued at about $2,778,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Insulet in the 2nd quarter valued at approximately $1,081,000. Finally, Jump Financial LLC raised its stake in shares of Insulet by 12.0% in the 2nd quarter. Jump Financial LLC now owns 66,170 shares of the medical instruments supplier’s stock valued at $20,789,000 after acquiring an additional 7,070 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PODD. Royal Bank Of Canada lifted their price objective on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Barclays restated an “underweight” rating and issued a $286.00 target price on shares of Insulet in a research report on Thursday, February 19th. Oppenheimer reduced their price objective on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. JPMorgan Chase & Co. decreased their price objective on Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, Evercore set a $340.00 target price on shares of Insulet in a report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $354.57.

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.