Alecta Tjanstepension Omsesidigt Purchases 99,700 Shares of Insulet Corporation $PODD

Alecta Tjanstepension Omsesidigt grew its position in shares of Insulet Corporation (NASDAQ:PODD) by 37.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 365,000 shares of the medical instruments supplier’s stock after purchasing an additional 99,700 shares during the period. Alecta Tjanstepension Omsesidigt’s holdings in Insulet were worth $112,683,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PODD. True Wealth Design LLC lifted its position in Insulet by 288.0% in the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings 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 worth $40,000 after purchasing an additional 43 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Insulet in the third quarter worth $49,000. Quent Capital LLC purchased a new position in shares of Insulet in the third quarter worth $49,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Insulet during the second quarter valued at $51,000.

Insulet Trading Down 0.1%

Shares of NASDAQ:PODD opened at $230.28 on Thursday. The stock’s 50-day simple moving average is $254.64 and its two-hundred day simple moving average is $294.78. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 65.79, a PEG ratio of 1.38 and a beta of 1.42. Insulet Corporation has a 52-week low of $216.49 and a 52-week high of $354.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million for 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 business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. Analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PODD shares. Zacks Research cut Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group lowered their target price on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Barclays reaffirmed an “underweight” rating and set a $286.00 price target on shares of Insulet in a report on Thursday, February 19th. Royal Bank Of Canada boosted their price objective on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Raymond James Financial lowered their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.24.

Insiders Place Their Bets

In other Insulet news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were acquired 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 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

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.