Envestnet Asset Management Inc. Boosts Stock Holdings in Insulet Corporation $PODD

Envestnet Asset Management Inc. increased its stake in Insulet Corporation (NASDAQ:PODD) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,166 shares of the medical instruments supplier’s stock after acquiring an additional 2,514 shares during the period. Envestnet Asset Management Inc.’s holdings in Insulet were worth $42,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PODD. Vanguard Group Inc. raised its position in Insulet by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock valued at $2,735,991,000 after purchasing an additional 39,403 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after buying an additional 58,309 shares during the period. Norges Bank acquired a new stake in Insulet in the second quarter valued at approximately $324,689,000. Federated Hermes Inc. raised its holdings in Insulet by 14.3% in the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock valued at $227,266,000 after acquiring an additional 90,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insulet by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after acquiring an additional 6,763 shares during the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $252.41 on Wednesday. The stock has a market cap of $17.76 billion, a P/E ratio of 73.16, a P/E/G ratio of 1.39 and a beta of 1.41. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The stock has a 50 day moving average of $281.06 and a two-hundred day moving average of $307.47. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68.

Analysts Set New Price Targets

PODD has been the topic of a number of recent analyst reports. Raymond James Financial increased their price objective on shares of Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Jefferies Financial Group boosted their target price on shares of Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target on the stock. in a research note on Monday, January 26th. Wells Fargo & Company lifted their price target on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Stifel Nicolaus dropped their price objective on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $374.10.

Insulet Profile

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.