Osaic Holdings Inc. Has $2.71 Million Stake in Insulet Corporation $PODD

Osaic Holdings Inc. lifted its position in shares of Insulet Corporation (NASDAQ:PODD) by 152.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,781 shares of the medical instruments supplier’s stock after purchasing an additional 5,309 shares during the quarter. Osaic Holdings Inc.’s holdings in Insulet were worth $2,709,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Insulet by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock valued at $2,735,991,000 after acquiring an additional 39,403 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Insulet by 3.1% in the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after purchasing an additional 58,309 shares during the last quarter. Norges Bank bought a new stake in shares of Insulet in the second quarter worth $324,689,000. Federated Hermes Inc. lifted its position in shares of Insulet by 14.3% in the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Insulet by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after purchasing an additional 6,763 shares during the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $288.63 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $313.67 and its two-hundred day moving average price is $312.84. The company has a market cap of $20.31 billion, a PE ratio of 83.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.37. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The company had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts predict that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore ISI initiated coverage on shares of Insulet in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $370.00 price target on the stock. Leerink Partners lifted their target price on Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Cowen reissued a “buy” rating on shares of Insulet in a research report on Thursday, December 4th. Zacks Research upgraded Insulet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, Piper Sandler upped their price objective on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.