Insulet (NASDAQ:PODD) Price Target Cut to $228.00

Insulet (NASDAQ:PODD) had its price objective decreased by analysts at Raymond James from $299.00 to $228.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical instruments supplier’s stock. Raymond James’ price objective would suggest a potential upside of 34.39% from the company’s previous close.

PODD has been the subject of several other research reports. Barclays cut their target price on Insulet from $329.00 to $257.00 and set an “equal weight” rating for the company in a research report on Thursday, August 10th. StockNews.com started coverage on Insulet in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Piper Sandler reduced their price target on Insulet from $360.00 to $325.00 in a research report on Wednesday, August 9th. Wells Fargo & Company reduced their price target on Insulet from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th. Finally, Robert W. Baird lowered Insulet from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $219.00 in a report on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.93.

Insulet Stock Down 2.9 %

NASDAQ:PODD traded down $5.05 during trading hours on Friday, hitting $169.65. 1,068,406 shares of the company’s stock traded hands, compared to its average volume of 803,338. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.38 and a current ratio of 3.34. Insulet has a twelve month low of $166.03 and a twelve month high of $335.91. The stock’s fifty day moving average price is $233.37 and its two-hundred day moving average price is $278.06. The firm has a market cap of $11.84 billion, a P/E ratio of 191.13, a P/E/G ratio of 3.02 and a beta of 0.81.

Insulet (NASDAQ:PODD) last announced its earnings results on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.14. Insulet had a return on equity of 22.42% and a net margin of 4.29%. The firm had revenue of $396.50 million during the quarter, compared to the consensus estimate of $383.97 million. On average, research analysts expect that Insulet will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other news, SVP Dan Manea sold 175 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total value of $50,750.00. Following the transaction, the senior vice president now owns 4,522 shares of the company’s stock, valued at $1,311,380. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Insulet news, SVP Dan Manea sold 175 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total transaction of $50,750.00. Following the completion of the sale, the senior vice president now directly owns 4,522 shares in the company, valued at $1,311,380. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Hollingshead purchased 5,550 shares of the business’s stock in a transaction on Monday, August 28th. The shares were acquired at an average price of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the transaction, the chief executive officer now owns 34,177 shares of the company’s stock, valued at $6,200,049.57. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Insulet

Institutional investors have recently bought and sold shares of the stock. American National Bank bought a new position in shares of Insulet during the first quarter valued at approximately $28,000. First Manhattan Co. purchased a new stake in Insulet in the fourth quarter worth approximately $35,000. Lindbrook Capital LLC boosted its stake in shares of Insulet by 78.1% during the 1st quarter. Lindbrook Capital LLC now owns 114 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 50 shares during the last quarter. Quintet Private Bank Europe S.A. purchased a new position in shares of Insulet during the 1st quarter worth $36,000. Finally, Heritage Wealth Management LLC boosted its stake in shares of Insulet by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 140 shares of the medical instruments supplier’s stock worth $41,000 after acquiring an additional 70 shares during the last quarter.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.