Fisher Asset Management LLC Has $14.29 Million Position in Insulet Corporation $PODD

Fisher Asset Management LLC grew its stake in Insulet Corporation (NASDAQ:PODD) by 38.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,273 shares of the medical instruments supplier’s stock after purchasing an additional 12,754 shares during the quarter. Fisher Asset Management LLC’s holdings in Insulet were worth $14,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC lifted its stake in Insulet by 288.0% in the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 72 shares during the period. Golden State Wealth Management LLC grew its position in shares of 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 period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 43 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Insulet in the 3rd quarter valued at approximately $49,000. Finally, Osterweis Capital Management Inc. bought a new position in Insulet during the 2nd quarter worth approximately $51,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Truist Financial decreased their price target on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Canaccord Genuity Group dropped their price objective on Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Stifel Nicolaus reduced their target price on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Barclays restated an “underweight” rating and issued a $286.00 price target on shares of Insulet in a report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $354.57.

Insider Activity

In related news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Insulet Price Performance

NASDAQ:PODD opened at $242.89 on Thursday. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a market cap of $17.10 billion, a P/E ratio of 69.40, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock’s 50-day simple moving average is $265.50 and its 200 day simple moving average is $301.62.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The business had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the business earned $1.15 earnings per share. As a group, sell-side analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.