Insulet (NASDAQ:PODD) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Insulet (NASDAQ:PODD) from a buy rating to a hold rating in a research report released on Tuesday.

Several other brokerages have also issued reports on PODD. JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Barclays boosted their price target on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Insulet Trading Down 1.1 %

Insulet stock opened at $269.70 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The business’s 50-day simple moving average is $274.33 and its 200-day simple moving average is $251.79. The firm has a market capitalization of $18.94 billion, a PE ratio of 46.58, a PEG ratio of 3.62 and a beta of 1.23. Insulet has a 52 week low of $160.19 and a 52 week high of $289.46.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Equities research analysts forecast that Insulet will post 3.92 earnings per share for the current year.

Insider Transactions at Insulet

In other news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its position in Insulet by 3.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC raised its position in Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after purchasing an additional 40,566 shares during the last quarter. Norges Bank bought a new position in Insulet in the 4th quarter worth approximately $248,806,000. Artisan Partners Limited Partnership raised its position in Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock worth $201,073,000 after purchasing an additional 149,524 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares during 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.