Wells Fargo & Company Issues Positive Forecast for Insulet (NASDAQ:PODD) Stock Price

Insulet (NASDAQ:PODD) had its price objective hoisted by Wells Fargo & Company from $290.00 to $305.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Several other research firms have also weighed in on PODD. Piper Sandler lifted their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Morgan Stanley lifted their price objective on shares of Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. BTIG Research boosted their target price on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Canaccord Genuity Group upped their price objective on shares of Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Citigroup increased their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.44.

Insulet Stock Down 0.9 %

Insulet stock opened at $269.34 on Wednesday. Insulet has a 52-week low of $160.19 and a 52-week high of $279.77. The firm has a 50 day moving average price of $251.37 and a two-hundred day moving average price of $220.02. The firm has a market cap of $18.89 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 4.18 and a beta of 1.21. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insider Buying and Selling

In other Insulet news, CAO Lauren Budden sold 915 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Insulet

A number of institutional investors have recently modified their holdings of PODD. Baillie Gifford & Co. raised its holdings in Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after acquiring an additional 389,639 shares during the period. Geode Capital Management LLC increased its stake in Insulet by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after acquiring an additional 22,850 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Insulet by 6.0% during the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after buying an additional 75,526 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Insulet by 18.7% during the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after acquiring an additional 139,246 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 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'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.