Insulet (NASDAQ:PODD) Cut to Neutral at Citigroup

Insulet (NASDAQ:PODD) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $230.00 price objective on the medical instruments supplier’s stock, down from their previous price objective of $338.00. Citigroup’s price objective suggests a potential upside of 13.02% from the stock’s previous close.

A number of other equities analysts have also commented on PODD. Stifel Nicolaus cut their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. BTIG Research reissued a “buy” rating and set a $380.00 price target on shares of Insulet in a research report on Wednesday, February 18th. Sanford C. Bernstein decreased their price target on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Leerink Partners decreased their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Finally, Raymond James Financial decreased their price target on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.10.

Insulet Stock Performance

Shares of PODD stock opened at $203.50 on Tuesday. Insulet has a 12 month low of $202.44 and a 12 month high of $354.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The firm has a market capitalization of $14.33 billion, a P/E ratio of 58.14, a P/E/G ratio of 1.22 and a beta of 1.47. The company’s fifty day moving average price is $236.88 and its two-hundred day moving average price is $282.89.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. During the same quarter in the previous year, the business posted $1.15 EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. On average, research analysts anticipate that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In related news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Insulet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of Insulet by 114.6% in the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier’s stock worth $25,000 after purchasing an additional 47 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Insulet during the 4th quarter valued at about $26,000. True Wealth Design LLC grew its position in shares of Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 72 shares during the last quarter. DV Equities LLC bought a new stake in shares of Insulet during the 4th quarter valued at about $28,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Insulet during the 4th quarter valued at about $28,000.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.