Braun Stacey Associates Inc. Makes New $16.66 Million Investment in Insulet Corporation $PODD

Braun Stacey Associates Inc. bought a new stake in Insulet Corporation (NASDAQ:PODD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,952 shares of the medical instruments supplier’s stock, valued at approximately $16,657,000.

A number of other hedge funds also recently modified their holdings of PODD. Norges Bank acquired a new position in shares of Insulet in the 2nd quarter valued at approximately $324,689,000. Qube Research & Technologies Ltd acquired a new stake in Insulet during the 2nd quarter worth approximately $131,439,000. Worldquant Millennium Advisors LLC bought a new position in Insulet in the second quarter valued at approximately $80,082,000. Munro Partners boosted its holdings in shares of Insulet by 1,483.0% in the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after buying an additional 212,885 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in Insulet by 487.5% in the 2nd quarter. AustralianSuper Pty Ltd now owns 205,168 shares of the medical instruments supplier’s stock worth $64,460,000 after purchasing an additional 170,247 shares during the period.

Insulet Price Performance

NASDAQ:PODD opened at $284.24 on Friday. The stock has a market capitalization of $20.00 billion, a PE ratio of 82.39, a P/E/G ratio of 2.00 and a beta of 1.40. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88. The firm has a fifty day simple moving average of $310.36 and a 200 day simple moving average of $312.37. 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 (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating 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 firm had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter last year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on PODD. JPMorgan Chase & Co. lifted their price target on Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Wells Fargo & Company increased their price objective on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group boosted their target price on Insulet from $432.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Piper Sandler upped their price target on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Cowen reiterated a “buy” rating on shares of Insulet in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

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.