Citigroup upgrades Insulet Corporation (PODD) rating to a Buy


Insulet Corporation’s filing revealed that its EVP, CFO McMillan Wayde D. unloaded Company’s shares for reported $0.39 million on Jul 03. In the deal valued at $282.94 per share,1,388 shares were sold. As a result of this transaction, McMillan Wayde D. now holds 21,477 shares worth roughly $ 3.89 million.

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Then, Manea Dan sold 175 shares, generating $50,750 in total proceeds. Upon selling the shares at $290.00, the SVP, Chief HR Officer now owns 4,522 shares.

Before that, BORIO LUCIANA sold 500 shares. Insulet Corporation shares valued at $141,690 were divested by the Director at a price of $283.38 per share. As a result of the transaction, BORIO LUCIANA now holds 2,350 shares, worth roughly $0.43 million.

Citigroup upgraded its Insulet Corporation [PODD] rating to a Buy from a a Neutral in a research note published on Monday, August 21, 2023; the price target was decreased to $265 from $273. PT values the company’s stock at a premium of 31.62 to its Monday closing price.

Price Performance Review of PODD

On Monday, Insulet Corporation [NASDAQ:PODD] saw its stock fall -0.98% to $181.21. On the same session, the stock had its day’s lowest price of $179.37, but rose to a high of $186.47. Over the last five days, the stock has lost -7.79%. Insulet Corporation shares have fallen nearly -38.45% since the year began. Nevertheless, the stocks have fallen -35.94% over the past one year. While a 52-week high of $335.91 was reached on 05/05/23, a 52-week low of $180.75 was recorded on 08/28/23. SMA at 50 days reached $260.34, while 200 days put it at $290.29. A total of 1.02 million shares were traded, compared to the trading of 1.99 million shares in the previous session.

Levels Of Support And Resistance For PODD Stock

The 24-hour chart illustrates a support level at 178.23, which if violated will result in even more drops to 175.25. On the upside, there is a resistance level at 185.33. A further resistance level may holdings at 189.45. The Relative Strength Index (RSI) on the 14-day chart is 11.15, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -22.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.95%. Stochastics %K at 2.98% indicates the stock is a buying.

How much short interest is there in Insulet Corporation?

A steep rise in short interest was recorded in Insulet Corporation stocks on Aug 14, 2023, growing by 0.12 million shares to a total of 2.84 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.72 million shares. There was a rise of 4.23%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.81% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.5.

Insulet Corporation [PODD] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 8,638,899 shares, or roughly 12.40% of the outstanding PODD shares. In other words, the investor’s shares have fallen by -663,345 from its previous 13-F filing of 9302244.0. Additionally, The Vanguard Group, Inc. increased 1.11% of its stake after which the total value it holdings stand at $2,129,046,883, while Wellington Management Co. LLP added 2.21% of its stake to hold $1.46 billion in the firm. Over the last quarter, Capital Research & Management Co sold -390,886 shares of Insulet Corporation, while BlackRock Fund Advisors sold 158,489 shares. At present, Capital Research & Management Co is holding 3,354,604 shares valued at $928.39 million. SSgA Funds Management, Inc. owned 2,890,501 shares of the company at the time of its most recent 13F filing, worth $799.95 million.

According to FactSet, Insulet Corporation’s share price will average $291.53 in the next year, based on opinions of analysts polled by the firm. This is up nearly 63.39 percent from its previous closing price of $183.00. Analysts expect Insulet Corporation stock to reach the higher price of $360.00, while the lowest price estimate is $208.00. However, 21 analysts have rated PODD stock as an Overweight in their predictions for 2023.


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