JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Insulet (NASDAQ:PODD) Stock

Insulet (NASDAQ:PODD) had its price objective hoisted by JPMorgan Chase & Co. from $280.00 to $330.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical instruments supplier’s stock.

PODD has been the subject of a number of other research reports. Citigroup increased their target price on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler upped their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Morgan Stanley raised their price target on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Sanford C. Bernstein assumed coverage on shares of Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.44.

Insulet Stock Down 0.9 %

PODD stock opened at $269.34 on Thursday. Insulet has a 52 week low of $160.19 and a 52 week high of $279.77. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a 50-day simple moving average of $251.37 and a 200-day simple moving average of $220.31. The stock has a market capitalization of $18.89 billion, a P/E ratio of 46.12, a P/E/G ratio of 4.18 and a beta of 1.21.

Insider Activity

In other news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This represents a 13.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Insulet

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its position in Insulet by 84.1% in the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Insulet in the 2nd quarter valued at approximately $32,000. Venturi Wealth Management LLC raised its stake in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the period. UMB Bank n.a. lifted its holdings in shares of Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Insulet during the 2nd quarter worth approximately $52,000.

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.