Intech Investment Management LLC Boosts Stock Holdings in Insulet Corporation $PODD

Intech Investment Management LLC raised its holdings in Insulet Corporation (NASDAQ:PODD) by 1,592.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,869 shares of the medical instruments supplier’s stock after purchasing an additional 45,982 shares during the quarter. Intech Investment Management LLC owned 0.07% of Insulet worth $15,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PODD. True Wealth Design LLC lifted its holdings in shares of 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 buying an additional 72 shares during the period. Golden State Wealth Management LLC raised its position in Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after acquiring an additional 69 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in 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. Quent Capital LLC purchased a new stake in shares of Insulet during the 3rd quarter worth $49,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Insulet during the 2nd quarter worth $51,000.

Insulet Price Performance

PODD stock opened at $251.50 on Friday. The stock’s 50 day moving average price is $269.07 and its 200 day moving average price is $303.58. The firm has a market cap of $17.71 billion, a P/E ratio of 71.86, a PEG ratio of 1.48 and a beta of 1.41. 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 Corporation has a 1 year low of $230.05 and a 1 year high of $354.88.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on PODD shares. Weiss Ratings restated a “hold (c)” rating on shares of Insulet in a research report on Thursday, January 22nd. TD Cowen cut Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target on the stock. in a report on Monday, January 26th. Royal Bank Of Canada raised their price objective on Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Citigroup lowered their target price on Insulet from $380.00 to $345.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average target price of $354.57.

Insiders Place Their Bets

In other news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

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.