Insulet (NASDAQ:PODD) Price Target Raised to $310.00

Insulet (NASDAQ:PODD) had its price objective increased by Citigroup from $283.00 to $310.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Citigroup’s target price would suggest a potential upside of 13.06% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. BTIG Research increased their price objective on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler increased their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Barclays increased their price objective on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Raymond James increased their price objective on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $260.88.

Insulet Stock Down 0.2 %

NASDAQ PODD traded down $0.59 during trading hours on Wednesday, hitting $274.20. The company’s stock had a trading volume of 292,999 shares, compared to its average volume of 762,048. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $19.23 billion, a PE ratio of 46.92, a price-to-earnings-growth ratio of 4.06 and a beta of 1.21. Insulet has a 52 week low of $160.19 and a 52 week high of $279.40. The company’s 50-day simple moving average is $248.93 and its two-hundred day simple moving average is $218.65.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PODD. Sequoia Financial Advisors LLC grew its position in Insulet by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,089 shares of the medical instruments supplier’s stock worth $422,000 after acquiring an additional 157 shares in the last quarter. Wedmont Private Capital purchased a new position in Insulet in the second quarter worth $280,000. Wealth Enhancement Advisory Services LLC grew its position in Insulet by 36.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,351 shares of the medical instruments supplier’s stock worth $474,000 after acquiring an additional 625 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Insulet by 38.8% in the second quarter. Assenagon Asset Management S.A. now owns 179,393 shares of the medical instruments supplier’s stock worth $36,202,000 after acquiring an additional 50,101 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Insulet by 90.1% in the second quarter. Nisa Investment Advisors LLC now owns 3,797 shares of the medical instruments supplier’s stock worth $766,000 after acquiring an additional 1,800 shares in the last quarter.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.