Dynamic Technology Lab Private Ltd Takes $676,000 Position in Insulet Corporation $PODD

Dynamic Technology Lab Private Ltd purchased a new position in Insulet Corporation (NASDAQ:PODD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,189 shares of the medical instruments supplier’s stock, valued at approximately $676,000.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its position in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 69 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Insulet by 48.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 43 shares in the last quarter. Quent Capital LLC bought a new position in shares of Insulet in the third quarter worth approximately $49,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Insulet during the second quarter valued at approximately $51,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PODD. Sanford C. Bernstein reduced their price target on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Leerink Partners cut their target price on Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Zacks Research lowered Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Truist Financial decreased their price target on Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, UBS Group reaffirmed a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.57.

Insulet Stock Up 1.4%

Shares of Insulet stock opened at $240.38 on Tuesday. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $262.58 and its 200 day moving average is $299.57. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 68.68, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42.

Insulet (NASDAQ:PODD) last posted its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. Research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

About Insulet

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.