Wells Fargo & Company Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its target price boosted by stock analysts at Wells Fargo & Company from $290.00 to $305.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.20% from the stock’s current price.

PODD has been the subject of several other reports. BTIG Research raised their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler upped their price objective on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Raymond James raised their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.69.

Insulet Trading Up 0.7 %

NASDAQ:PODD traded up $1.99 during trading hours on Wednesday, hitting $276.78. The company had a trading volume of 42,976 shares, compared to its average volume of 760,933. Insulet has a 1 year low of $160.19 and a 1 year high of $279.40. The company has a market cap of $19.41 billion, a P/E ratio of 47.39, a P/E/G ratio of 4.06 and a beta of 1.21. The company has a 50-day moving average of $248.93 and a 200 day moving average of $218.65. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PODD. Blue Trust Inc. grew its holdings in Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares during the period. International Assets Investment Management LLC acquired a new position in Insulet during the 2nd quarter worth $32,000. Venturi Wealth Management LLC increased its holdings in Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. UMB Bank n.a. raised its position in shares of Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Insulet during the second quarter worth $52,000.

Insulet Company Profile

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.