Insulet Co. (NASDAQ:PODD – Get Free Report) hit a new 52-week low on Friday after Raymond James lowered their price target on the stock from $299.00 to $228.00. Raymond James currently has an outperform rating on the stock. Insulet traded as low as $167.03 and last traded at $167.13, with a volume of 429933 shares traded. The stock had previously closed at $174.70.
PODD has been the subject of several other reports. UBS Group reduced their price objective on Insulet from $270.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, September 6th. TD Cowen cut their target price on Insulet from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. StockNews.com started coverage on Insulet in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Piper Sandler decreased their target price on Insulet from $360.00 to $325.00 in a research report on Wednesday, August 9th. Finally, Citigroup raised Insulet from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $273.00 to $265.00 in a report on Monday, August 21st. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $281.93.
Insiders Place Their Bets
In other Insulet news, SVP Dan Manea sold 175 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total value of $50,750.00. Following the sale, the senior vice president now directly owns 4,522 shares in the company, valued at approximately $1,311,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO James Hollingshead bought 5,550 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was purchased at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the transaction, the chief executive officer now owns 34,177 shares in the company, valued at approximately $6,200,049.57. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dan Manea sold 175 shares of Insulet stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total transaction of $50,750.00. Following the transaction, the senior vice president now directly owns 4,522 shares of the company’s stock, valued at $1,311,380. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Institutional Trading of Insulet
Large investors have recently made changes to their positions in the stock. American National Bank purchased a new stake in Insulet during the first quarter valued at $28,000. Lindbrook Capital LLC raised its position in shares of Insulet by 78.1% in the 1st quarter. Lindbrook Capital LLC now owns 114 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. Quintet Private Bank Europe S.A. acquired a new position in Insulet in the 1st quarter worth approximately $36,000. First Manhattan Co. acquired a new stake in shares of Insulet during the 4th quarter worth approximately $35,000. Finally, Global Retirement Partners LLC grew its stake in Insulet by 51.1% in the 1st quarter. Global Retirement Partners LLC now owns 133 shares of the medical instruments supplier’s stock valued at $43,000 after acquiring an additional 45 shares during the period.
Insulet Stock Down 2.9 %
The business’s 50 day moving average is $233.37 and its 200-day moving average is $278.06. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.38 and a current ratio of 3.34. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 191.13, a PEG ratio of 3.02 and a beta of 0.81.
Insulet (NASDAQ:PODD – Get Free Report) last released its earnings results on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The firm had revenue of $396.50 million for the quarter, compared to analyst estimates of $383.97 million. Insulet had a net margin of 4.29% and a return on equity of 22.42%. On average, sell-side analysts predict that Insulet Co. will post 1.64 EPS for the current fiscal year.
Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.