Wall Street Zen Downgrades Insulet (NASDAQ:PODD) to Hold

Insulet (NASDAQ:PODD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms have also recently commented on PODD. Citigroup reiterated a “buy” rating and set a $380.00 target price (up from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of Insulet in a report on Friday, May 16th. Royal Bank of Canada initiated coverage on shares of Insulet in a research report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price objective on the stock. Piper Sandler increased their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Raymond James restated an “outperform” rating and set a $360.00 price target (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.41.

Insulet Stock Up 0.3%

Insulet stock opened at $304.63 on Friday. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37. The firm’s fifty day moving average price is $287.15 and its two-hundred day moving average price is $275.06. Insulet has a 1-year low of $173.00 and a 1-year high of $329.33. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million for the quarter, compared to analysts’ expectations of $543.20 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Insulet’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities research analysts predict that Insulet will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares of the company’s stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This represents a 36.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional Trading of Insulet

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Insulet by 357.4% in the fourth quarter. Empowered Funds LLC now owns 4,327 shares of the medical instruments supplier’s stock worth $1,130,000 after purchasing an additional 3,381 shares during the period. Asset Management One Co. Ltd. grew its position in Insulet by 2.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 26,766 shares of the medical instruments supplier’s stock worth $7,096,000 after buying an additional 605 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Insulet by 4.3% in the 4th quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier’s stock worth $633,000 after acquiring an additional 100 shares during the last quarter. Banque Pictet & Cie SA bought a new position in Insulet in the 4th quarter worth about $287,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Insulet in the 4th quarter valued at about $208,000.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.