Harvest Fund Management Co. Ltd Cuts Position in Insulet Corporation (NASDAQ:PODD)

Harvest Fund Management Co. Ltd lessened its stake in Insulet Corporation (NASDAQ:PODD) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,026 shares of the medical instruments supplier’s stock after selling 285 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Insulet were worth $532,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Insulet by 426.3% in the 1st quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 81 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Insulet in the 4th quarter worth approximately $42,000. Ramirez Asset Management Inc. bought a new stake in Insulet during the 1st quarter valued at $53,000. Golden State Wealth Management LLC raised its holdings in Insulet by 553.1% during the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier’s stock valued at $55,000 after acquiring an additional 177 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in Insulet by 114.7% during the 1st quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier’s stock valued at $65,000 after acquiring an additional 133 shares during the period.

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 23,180 shares of the company’s stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PODD has been the topic of a number of analyst reports. Truist Financial initiated coverage on shares of Insulet in a report on Monday, June 16th. They set a “buy” rating and a $365.00 target price on the stock. Barclays boosted their target price on shares of Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Insulet from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price on the stock in a report on Tuesday, May 13th. Finally, Oppenheimer boosted their target price on shares of Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.00.

Insulet Stock Up 2.3%

Shares of NASDAQ:PODD opened at $298.27 on Thursday. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33. The firm has a fifty day moving average of $303.77 and a 200 day moving average of $282.10. The firm has a market capitalization of $20.99 billion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47.

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

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.