Insulet (NASDAQ:PODD) Stock Price Up 5.9%

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Insulet Co. (NASDAQ:PODD) rose 5.9% during trading on Wednesday . The stock traded as high as $162.18 and last traded at $166.80, approximately 24,583 shares traded hands during trading. A decline of 98% from the average daily volume of 1,062,953 shares. The stock had previously closed at $157.51.

PODD has been the subject of several research reports. Cowen restated a “buy” rating on shares of Insulet in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Insulet from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Canaccord Genuity lifted their price objective on shares of Insulet from $150.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, December 9th. BidaskClub cut shares of Insulet from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 18th. Finally, Robert W. Baird decreased their price objective on shares of Insulet from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $172.00.

The company has a quick ratio of 3.11, a current ratio of 3.75 and a debt-to-equity ratio of 11.70. The stock’s 50-day simple moving average is $182.61 and its two-hundred day simple moving average is $172.95. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 987.61 and a beta of 0.76.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Tuesday, February 25th. The medical instruments supplier reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The company had revenue of $209.40 million for the quarter, compared to analyst estimates of $197.79 million. Insulet had a return on equity of 9.56% and a net margin of 1.58%. On average, sell-side analysts forecast that Insulet Co. will post 0.56 EPS for the current year.

In other news, SVP Michael P. Spears sold 13,627 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $2,480,250.27. Following the completion of the sale, the senior vice president now owns 13,560 shares of the company’s stock, valued at $2,468,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Lemoine sold 2,884 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $171.24, for a total transaction of $493,856.16. Following the sale, the director now directly owns 7,990 shares of the company’s stock, valued at approximately $1,368,207.60. The disclosure for this sale can be found here. Insiders have sold 30,053 shares of company stock valued at $5,279,426 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PODD. Capital World Investors grew its holdings in shares of Insulet by 23.5% during the fourth quarter. Capital World Investors now owns 3,998,290 shares of the medical instruments supplier’s stock worth $684,507,000 after buying an additional 760,721 shares in the last quarter. Norges Bank purchased a new stake in shares of Insulet during the fourth quarter worth $99,362,000. Renaissance Technologies LLC grew its holdings in shares of Insulet by 382.1% during the fourth quarter. Renaissance Technologies LLC now owns 499,900 shares of the medical instruments supplier’s stock worth $85,583,000 after buying an additional 396,200 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Insulet by 2,469.9% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 267,269 shares of the medical instruments supplier’s stock worth $45,756,000 after buying an additional 256,869 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Insulet during the fourth quarter worth $38,728,000.

About Insulet (NASDAQ:PODD)

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

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