TD Cowen Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD) had its price target upped by TD Cowen from $264.00 to $324.00 in a research note released on Friday,Benzinga reports. TD Cowen currently has a buy rating on the medical instruments supplier’s stock.

PODD has been the subject of several other reports. Raymond James upped their price target on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Barclays lifted their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.81.

Insulet Stock Up 3.7 %

Shares of NASDAQ PODD opened at $266.30 on Friday. The stock has a market capitalization of $18.68 billion, a PE ratio of 45.60, a P/E/G ratio of 4.12 and a beta of 1.21. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a fifty day moving average of $260.30 and a 200-day moving average of $227.75. Insulet has a 52-week low of $160.19 and a 52-week high of $279.77.

Insider Activity at Insulet

In related news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PODD. International Assets Investment Management LLC acquired a new stake in shares of Insulet in the 2nd quarter valued at about $32,000. Commonwealth Equity Services LLC raised its stake in Insulet by 24.7% during the second quarter. Commonwealth Equity Services LLC now owns 16,531 shares of the medical instruments supplier’s stock valued at $3,336,000 after buying an additional 3,272 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Insulet by 13.6% during the 2nd quarter. Natixis Advisors LLC now owns 24,607 shares of the medical instruments supplier’s stock worth $4,966,000 after buying an additional 2,955 shares during the last quarter. Rhumbline Advisers grew its position in shares of Insulet by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 146,561 shares of the medical instruments supplier’s stock worth $29,576,000 after acquiring an additional 757 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $9,207,000.

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.