Insider Buying: Insulet (NASDAQ:PODD) Director Buys $499,846.90 in Stock

Insulet Corporation (NASDAQ:PODD) Director Michael Minogue purchased 2,030 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the acquisition, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Insulet Stock Down 1.9%

Insulet stock opened at $246.61 on Friday. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88. The business has a fifty day moving average price of $268.21 and a 200-day moving average price of $303.13. 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 stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 70.46, a PEG ratio of 1.47 and a beta of 1.41.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The company had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period last year, the business posted $1.15 earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PODD. Sage Mountain Advisors LLC boosted its position in Insulet by 4.6% in the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock worth $229,000 after purchasing an additional 33 shares in the last quarter. Glenmede Investment Management LP boosted its holdings in Insulet by 1.6% during the third quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier’s stock worth $708,000 after buying an additional 35 shares in the last quarter. Curi Capital LLC boosted its holdings in Insulet by 0.8% during the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock worth $1,365,000 after buying an additional 36 shares in the last quarter. WINTON GROUP Ltd grew its position in Insulet by 0.9% during the third quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock valued at $1,261,000 after buying an additional 37 shares during the period. Finally, Evelyn Partners Investment Management Services Ltd increased its holdings in Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after buying an additional 39 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on PODD. Royal Bank Of Canada raised their price target on shares of Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Evercore set a $340.00 target price on Insulet in a research report on Thursday, February 19th. Jefferies Financial Group lifted their price target on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Sanford C. Bernstein cut their price objective on Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Finally, Wolfe Research raised their price objective on Insulet from $350.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.57.

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.