150,699 Shares in Insulet Corporation $PODD Bought by Parnassus Investments LLC

Parnassus Investments LLC purchased a new position in shares of Insulet Corporation (NASDAQ:PODD) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 150,699 shares of the medical instruments supplier’s stock, valued at approximately $46,525,000.

Several other hedge funds have also added to or reduced their stakes in PODD. Curi Capital LLC grew its position in Insulet by 0.8% in the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after acquiring an additional 36 shares during the last quarter. Evelyn Partners Investment Management Services Ltd increased its position in shares of Insulet by 28.7% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after purchasing an additional 39 shares during the last quarter. PDS Planning Inc grew its holdings in Insulet by 5.1% during the third quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock valued at $253,000 after purchasing an additional 40 shares during the period. Camarda Financial Advisors LLC boosted its stake in Insulet by 0.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier’s stock worth $2,304,000 after purchasing an additional 40 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Insulet by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,017 shares of the medical instruments supplier’s stock worth $634,000 after buying an additional 45 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on PODD shares. Canaccord Genuity Group lifted their price target on Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. UBS Group reaffirmed a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. BTIG Research increased their price target on shares of Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. boosted their price objective on shares of Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Rothschild & Co Redburn raised their target price on Insulet from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $379.10.

Insulet Stock Performance

NASDAQ:PODD opened at $289.04 on Friday. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $306.95 and its two-hundred day simple moving average is $311.80. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm had revenue of $521.70 million for the quarter, compared to the consensus estimate of $678.70 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, equities analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

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.