Insulet (NASDAQ:PODD) Price Target Raised to $127.00

Insulet (NASDAQ:PODD) had its price objective increased by investment analysts at Morgan Stanley from $98.00 to $127.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the medical instruments supplier’s stock. Morgan Stanley’s price target would suggest a potential upside of 4.74% from the stock’s previous close.

A number of other brokerages have also recently commented on PODD. Piper Jaffray Companies set a $97.00 target price on shares of Nike and gave the company a “buy” rating in a report on Friday, June 28th. Svb Leerink reaffirmed an “outperform” rating on shares of Stryker in a report on Wednesday, July 10th. BTIG Research lifted their target price on shares of Paypal from $114.00 to $130.00 and gave the company a “buy” rating in a report on Monday, May 6th. They noted that the move was a valuation call. JPMorgan Chase & Co. cut shares of Sogou from a “neutral” rating to an “underweight” rating and cut their target price for the company from $5.50 to $4.12 in a report on Thursday, June 27th. Finally, Canaccord Genuity cut their target price on shares of Jamieson Wellness from C$23.00 to C$20.00 in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $113.45.

Shares of NASDAQ:PODD opened at $121.25 on Tuesday. The stock has a market cap of $7.14 billion, a P/E ratio of 520.35 and a beta of 1.12. The company has a quick ratio of 3.71, a current ratio of 4.36 and a debt-to-equity ratio of 2.68. Insulet has a twelve month low of $70.80 and a twelve month high of $124.38. The business’s 50 day moving average is $116.54.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $159.56 million during the quarter, compared to the consensus estimate of $154.66 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The company’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, equities research analysts expect that Insulet will post 0.27 EPS for the current fiscal year.

In other Insulet news, COO Charles Alpuche sold 3,900 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $104.78, for a total value of $408,642.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shacey Petrovic sold 895 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $113.00, for a total transaction of $101,135.00. Following the completion of the transaction, the insider now directly owns 95,559 shares in the company, valued at $10,798,167. The disclosure for this sale can be found here. Insiders sold a total of 41,894 shares of company stock worth $4,524,025 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Insulet by 0.3% in the 1st quarter. FMR LLC now owns 8,821,151 shares of the medical instruments supplier’s stock valued at $838,802,000 after buying an additional 30,262 shares during the period. Primecap Management Co. CA increased its stake in Insulet by 0.9% in the 1st quarter. Primecap Management Co. CA now owns 4,919,472 shares of the medical instruments supplier’s stock valued at $467,793,000 after buying an additional 43,214 shares during the period. William Blair Investment Management LLC increased its stake in Insulet by 15.7% in the 1st quarter. William Blair Investment Management LLC now owns 2,144,988 shares of the medical instruments supplier’s stock valued at $203,967,000 after buying an additional 290,790 shares during the period. Frontier Capital Management Co. LLC increased its stake in Insulet by 12.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,958,736 shares of the medical instruments supplier’s stock valued at $186,256,000 after buying an additional 214,033 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Insulet by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,913,428 shares of the medical instruments supplier’s stock valued at $181,948,000 after buying an additional 33,828 shares during the period.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.

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Analyst Recommendations for Insulet (NASDAQ:PODD)

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