Insulet Corporation $PODD Shares Purchased by Gradient Investments LLC

Gradient Investments LLC increased its stake in Insulet Corporation (NASDAQ:PODD) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 58,664 shares of the medical instruments supplier’s stock after acquiring an additional 3,191 shares during the quarter. Gradient Investments LLC’s holdings in Insulet were worth $18,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Insulet in the second quarter valued at about $324,689,000. Qube Research & Technologies Ltd acquired a new stake in Insulet in the 2nd quarter worth about $131,439,000. Worldquant Millennium Advisors LLC purchased a new stake in Insulet during the 2nd quarter worth approximately $80,082,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Insulet by 1,316.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 193,511 shares of the medical instruments supplier’s stock worth $50,818,000 after buying an additional 179,850 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Insulet by 487.5% during the second quarter. AustralianSuper Pty Ltd now owns 205,168 shares of the medical instruments supplier’s stock valued at $64,460,000 after acquiring an additional 170,247 shares during the last quarter.

Insulet Trading Down 1.0%

Shares of PODD opened at $288.73 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. Insulet Corporation has a 12-month low of $230.05 and a 12-month high of $354.88. The firm has a 50-day moving average price of $317.99 and a 200 day moving average price of $314.34. The firm has a market capitalization of $20.31 billion, a P/E ratio of 83.69, a P/E/G ratio of 2.05 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Evercore ISI initiated coverage on shares of Insulet in a research note on Tuesday. They set an “outperform” rating and a $370.00 target price on the stock. Wolfe Research increased their target price on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Leerink Partners raised their price target on shares of Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $379.19.

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.