Insulet Corporation $PODD Stake Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Insulet Corporation (NASDAQ:PODD) by 105.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,218 shares of the medical instruments supplier’s stock after acquiring an additional 67,772 shares during the period. Assenagon Asset Management S.A.’s holdings in Insulet were worth $40,820,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kozak & Associates Inc. acquired a new stake in shares of Insulet in the 2nd quarter valued at about $32,000. Golden State Wealth Management LLC lifted its holdings in Insulet by 202.9% during the 2nd 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. Trust Co. of Toledo NA OH acquired a new position in shares of Insulet in the 2nd quarter worth approximately $35,000. Osterweis Capital Management Inc. bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $51,000. Finally, NewEdge Advisors LLC raised its position in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 64 shares in the last quarter.

Insulet Trading Up 1.1%

Shares of Insulet stock opened at $292.88 on Friday. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. 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 has a fifty day simple moving average of $316.92 and a 200-day simple moving average of $314.01. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 84.89, a price-to-earnings-growth ratio of 2.04 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PODD. Truist Financial lowered their target price on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI began coverage on shares of Insulet in a research report on Tuesday. They set an “outperform” rating and a $370.00 price objective for the company. Raymond James Financial increased their price objective on shares of Insulet from $366.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Piper Sandler raised their target price on shares of Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, UBS Group reiterated a “buy” rating on shares of Insulet in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.00.

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.