Evercore Has Lowered Expectations for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price objective lowered by research analysts at Evercore from $340.00 to $240.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Evercore’s price target indicates a potential upside of 17.94% from the stock’s previous close.

PODD has been the subject of several other reports. Oppenheimer decreased their price target on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Citigroup cut Insulet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $338.00 to $230.00 in a research report on Tuesday. Finally, Truist Financial reduced their target price on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $344.33.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $203.50 on Monday. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 1.22 and a beta of 1.47. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. Insulet has a 1-year low of $202.44 and a 1-year high of $354.88. The stock’s 50-day moving average is $236.88 and its 200 day moving average is $282.89.

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

Insider Transactions at Insulet

In related news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Winnow Wealth LLC purchased a new position in Insulet in the 3rd quarter valued at approximately $862,000. Machina Capital S.A.S. acquired a new position in Insulet in the third quarter valued at approximately $2,778,000. Jain Global LLC grew its position in shares of Insulet by 148.2% in the 3rd quarter. Jain Global LLC now owns 106,710 shares of the medical instruments supplier’s stock valued at $32,945,000 after buying an additional 63,719 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Insulet by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 551,133 shares of the medical instruments supplier’s stock worth $157,128,000 after purchasing an additional 142,922 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Insulet by 38.1% in the third quarter. Fisher Asset Management LLC now owns 46,273 shares of the medical instruments supplier’s stock valued at $14,286,000 after buying an additional 12,754 shares during the last quarter.

Insulet Company Profile

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.