Federated Hermes Inc. Sells 22,739 Shares of Insulet Corporation $PODD

Federated Hermes Inc. reduced its stake in shares of Insulet Corporation (NASDAQ:PODD) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 700,624 shares of the medical instruments supplier’s stock after selling 22,739 shares during the quarter. Federated Hermes Inc. owned about 1.00% of Insulet worth $216,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PODD. True Wealth Design LLC increased its position in shares of Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Insulet by 202.9% during the second 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. Trust Co. of Toledo NA OH bought a new position in Insulet during the second quarter valued at $35,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Insulet by 48.9% in the third 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 period. Finally, Quent Capital LLC purchased a new stake in shares of Insulet in the third quarter valued at $49,000.

Wall Street Analyst Weigh In

PODD has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company raised their price objective on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. UBS Group reissued a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. BTIG Research lifted 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. Finally, Rothschild & Co Redburn lifted their target price on shares of Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $375.05.

Insulet Stock Performance

NASDAQ:PODD opened at $264.91 on Wednesday. Insulet Corporation has a 52 week low of $230.05 and a 52 week high of $354.88. The company has a fifty day simple moving average of $295.98 and a two-hundred day simple moving average of $309.98. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 76.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.40.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. 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.