Several other research analysts have also recently issued reports on the company. Canaccord Genuity reissued a buy rating and issued a $110.00 price objective (up previously from $100.00) on shares of Insulet in a research note on Monday, May 6th. Morgan Stanley increased their price objective on Insulet from $98.00 to $127.00 and gave the company an equal weight rating in a report on Tuesday, July 16th. BTIG Research upgraded Insulet from a neutral rating to a buy rating and set a $115.00 price objective for the company in a report on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on Insulet from $90.00 to $120.00 and gave the company a neutral rating in a report on Thursday, June 27th. Finally, Svb Leerink reiterated an outperform rating on shares of Insulet in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $113.45.
Shares of NASDAQ PODD traded down $1.67 during mid-day trading on Thursday, hitting $120.89. The stock had a trading volume of 460,900 shares, compared to its average volume of 633,054. The company has a debt-to-equity ratio of 2.68, a quick ratio of 3.71 and a current ratio of 4.36. The stock’s 50 day moving average price is $120.21. Insulet has a twelve month low of $70.80 and a twelve month high of $126.71. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 2,417.80 and a beta of 1.12.
In other news, Director Sally Crawford sold 28,347 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $108.60, for a total value of $3,078,484.20. Following the transaction, the director now directly owns 28,469 shares in the company, valued at approximately $3,091,733.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shacey Petrovic sold 895 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was 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 owns 95,559 shares in the company, valued at $10,798,167. The disclosure for this sale can be found here. Insiders have sold a total of 41,894 shares of company stock worth $4,524,025 over the last 90 days. Insiders own 3.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Insulet by 0.3% in the 1st quarter. FMR LLC now owns 8,821,151 shares of the medical instruments supplier’s stock worth $838,802,000 after buying an additional 30,262 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of 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 worth $467,793,000 after buying an additional 43,214 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of 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 worth $203,967,000 after buying an additional 290,790 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of 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 worth $186,256,000 after buying an additional 214,033 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Insulet by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,913,428 shares of the medical instruments supplier’s stock worth $181,948,000 after buying an additional 33,828 shares during the last quarter.
Insulet Company Profile
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.
Further Reading: Percentage Decliners
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