Insulet (NASDAQ:PODD) Reaches New 1-Year High – Here’s Why

Insulet Co. (NASDAQ:PODD)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $325.22 and last traded at $324.75, with a volume of 836387 shares trading hands. The stock had previously closed at $322.02.

Analyst Ratings Changes

PODD has been the topic of several analyst reports. Stifel Nicolaus lifted their price objective on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 price target on the stock in a research note on Tuesday, May 13th. Oppenheimer increased their price objective on Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Citigroup upped their price target on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.53.

Insulet Price Performance

The company has a market cap of $22.85 billion, a PE ratio of 56.09, a PEG ratio of 3.62 and a beta of 1.26. The firm’s 50-day moving average is $264.14 and its 200-day moving average is $266.69. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

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

Insider Activity at Insulet

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

Institutional Investors Weigh In On Insulet

Several hedge funds have recently added to or reduced their stakes in PODD. Horizon Investments LLC raised its position in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after purchasing an additional 42 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after buying an additional 43 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Insulet by 9.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 47 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Insulet by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier’s stock worth $552,000 after buying an additional 48 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of Insulet by 0.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,462 shares of the medical instruments supplier’s stock valued at $2,222,000 after buying an additional 48 shares during the last quarter.

About Insulet

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.