Insulet (NASDAQ:PODD) Given New $240.00 Price Target at Evercore

Insulet (NASDAQ:PODD) had its price objective dropped by Evercore from $340.00 to $240.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Evercore’s target price suggests a potential upside of 17.94% from the company’s previous close.

A number of other research firms have also issued reports on PODD. Raymond James Financial reduced their price objective on Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Canaccord Genuity Group lowered their price target on shares of Insulet from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Sanford C. Bernstein dropped their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Oppenheimer reduced their target price on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, TD Cowen cut shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price for the company. in a research report on Monday, January 26th. Nineteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $344.33.

Insulet Stock Performance

NASDAQ:PODD opened at $203.50 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The company has a market cap 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 firm’s 50 day moving average is $236.88 and its two-hundred day moving average is $282.89. Insulet has a fifty-two week low of $202.44 and a fifty-two week high of $354.88.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. Analysts expect that Insulet will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In related news, Director Michael R. Minogue bought 2,030 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, with a total value of $499,846.90. Following the purchase, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PODD. NewEdge Advisors LLC increased its position in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after purchasing an additional 64 shares during the period. First Trust Advisors LP lifted its holdings in shares of Insulet by 36.8% in the second quarter. First Trust Advisors LP now owns 137,949 shares of the medical instruments supplier’s stock valued at $43,341,000 after buying an additional 37,136 shares during the period. Cresset Asset Management LLC boosted its stake in Insulet by 7.3% during the second quarter. Cresset Asset Management LLC now owns 2,587 shares of the medical instruments supplier’s stock valued at $813,000 after buying an additional 177 shares in the last quarter. Avestar Capital LLC bought a new position in Insulet during the second quarter valued at about $224,000. Finally, Cerity Partners LLC grew its holdings in Insulet by 68.7% during the second quarter. Cerity Partners LLC now owns 17,262 shares of the medical instruments supplier’s stock worth $5,423,000 after acquiring an additional 7,030 shares during the period.

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.