Insulet (NASDAQ:PODD) Hits New 1-Year High at $236.62

Insulet Co. (NASDAQ:PODD)’s share price hit a new 52-week high on Monday . The company traded as high as $236.62 and last traded at $233.96, with a volume of 24023 shares. The stock had previously closed at $233.87.

Wall Street Analysts Forecast Growth

PODD has been the topic of several recent analyst reports. OTR Global reiterated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Barclays raised their price objective on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. UBS Group upped their target price on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. BTIG Research cut their price target on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $234.00 price objective on shares of Insulet in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $225.29.

Insulet Price Performance

The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $199.23 and a 200 day moving average of $186.02. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 70.87, a P/E/G ratio of 4.26 and a beta of 1.21.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Insulet Co. will post 3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PODD. Capital Research Global Investors boosted its holdings in Insulet by 19.7% in the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after purchasing an additional 1,556,455 shares during the period. Vanguard Group Inc. grew its position in Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after acquiring an additional 169,506 shares during the last quarter. Baillie Gifford & Co. raised its stake in Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after acquiring an additional 443,783 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Insulet by 6.0% in the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after acquiring an additional 75,526 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Insulet in the fourth quarter worth about $227,655,000.

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.