Insulet (NASDAQ:PODD) Now Covered by Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Insulet (NASDAQ:PODD) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $340.00 price target on the medical instruments supplier’s stock.

Several other brokerages have also recently commented on PODD. Wells Fargo & Company lifted their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Barclays lifted 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. BTIG Research lifted 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. Finally, Morgan Stanley boosted their target price on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insulet Stock Down 4.1 %

NASDAQ:PODD opened at $259.67 on Thursday. The company has a market cap of $18.24 billion, a PE ratio of 44.85, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet has a twelve month low of $160.19 and a twelve month high of $289.46. 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’s 50 day moving average is $274.48 and its two-hundred day moving average is $251.93.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Analysts anticipate that Insulet will post 3.92 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Insulet

A number of large investors have recently modified their holdings of PODD. Venturi Wealth Management LLC grew its holdings in shares of Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 133 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet during the fourth quarter worth $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Insulet during the fourth quarter worth $42,000. SRS Capital Advisors Inc. grew its holdings in shares of Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 56 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after buying an additional 56 shares in the last quarter.

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.