Mediolanum International Funds Ltd Acquires 12,374 Shares of Insulet Corporation (NASDAQ:PODD)

Mediolanum International Funds Ltd grew its holdings in Insulet Corporation (NASDAQ:PODD) by 139.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,264 shares of the medical instruments supplier’s stock after buying an additional 12,374 shares during the period. Mediolanum International Funds Ltd’s holdings in Insulet were worth $5,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Insulet during the 4th quarter valued at $248,806,000. GAMMA Investing LLC raised its position in shares of Insulet by 27,298.6% in the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after purchasing an additional 661,717 shares during the period. Northern Trust Corp lifted its stake in shares of Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock worth $192,881,000 after buying an additional 125,710 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Insulet during the 4th quarter worth about $29,993,000. Finally, Marshall Wace LLP boosted its holdings in shares of Insulet by 29.6% during the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier’s stock worth $127,015,000 after buying an additional 111,119 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, May 9th. The Goldman Sachs Group assumed coverage on Insulet in a report on Friday, May 30th. They set a “buy” rating and a $380.00 price target for the company. Wells Fargo & Company set a $322.00 price target on Insulet in a research note on Monday, April 28th. Truist Financial started coverage on Insulet in a research report on Monday, June 16th. They set a “buy” rating and a $365.00 price objective on the stock. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price for the company in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.00.

Insider Buying and Selling

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares of the company’s stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $290.22 on Monday. The firm has a 50 day moving average of $305.68 and a 200-day moving average of $281.78. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $20.43 billion, a PE ratio of 52.20, a PEG ratio of 2.59 and a beta of 1.35.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The business had revenue of $569.00 million for the quarter, compared to analysts’ expectations of $543.20 million. During the same period last year, the firm posted $0.73 earnings per share. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.