11,795 Shares in Insulet Corporation (NASDAQ:PODD) Purchased by Perpetual Ltd

Perpetual Ltd acquired a new position in shares of Insulet Corporation (NASDAQ:PODD) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,795 shares of the medical instruments supplier’s stock, valued at approximately $3,097,000.

A number of other hedge funds have also modified their holdings of the company. New York Life Investment Management LLC grew its stake in Insulet by 79.6% in the fourth quarter. New York Life Investment Management LLC now owns 16,854 shares of the medical instruments supplier’s stock valued at $4,400,000 after purchasing an additional 7,471 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Insulet by 2.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 27,400 shares of the medical instruments supplier’s stock valued at $7,153,000 after purchasing an additional 600 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Insulet in the fourth quarter valued at approximately $28,422,000. Fisher Asset Management LLC grew its stake in Insulet by 7.6% in the fourth quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock valued at $98,605,000 after purchasing an additional 26,594 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Insulet by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 3,036 shares of the medical instruments supplier’s stock valued at $793,000 after purchasing an additional 83 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup restated a “buy” rating and issued a $380.00 price target (up from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Wells Fargo & Company set a $322.00 price target on Insulet in a research note on Monday, April 28th. Raymond James Financial restated an “outperform” rating and issued a $360.00 price target (up from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Truist Financial began coverage on Insulet in a research note on Monday, June 16th. They set a “buy” rating and a $365.00 target price for the company. Finally, The Goldman Sachs Group began coverage on Insulet in a research note on Friday, May 30th. They set a “buy” rating and a $380.00 target price for the company. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.00.

Insulet Stock Performance

PODD opened at $313.08 on Friday. The business has a fifty day simple moving average of $297.69 and a 200 day simple moving average of $277.62. The company has a market capitalization of $22.03 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.37. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. Research analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the sale, the senior vice president now directly owns 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.