Patton Fund Management Inc. Buys 13,972 Shares of Insulet Corporation $PODD

Patton Fund Management Inc. grew its stake in Insulet Corporation (NASDAQ:PODD) by 1,655.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,816 shares of the medical instruments supplier’s stock after purchasing an additional 13,972 shares during the quarter. Insulet comprises about 0.8% of Patton Fund Management Inc.’s holdings, making the stock its 22nd biggest holding. Patton Fund Management Inc.’s holdings in Insulet were worth $4,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PODD. Curi Capital LLC increased its position in shares of Insulet by 0.8% during the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after buying an additional 36 shares during the period. Evelyn Partners Investment Management Services Ltd boosted its position in 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 acquiring an additional 39 shares in the last quarter. Camarda Financial Advisors LLC grew its holdings in shares of Insulet by 0.5% during the 2nd quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier’s stock worth $2,304,000 after acquiring an additional 40 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Insulet by 2.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,017 shares of the medical instruments supplier’s stock worth $634,000 after acquiring an additional 45 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Insulet by 0.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 8,462 shares of the medical instruments supplier’s stock worth $2,222,000 after acquiring an additional 48 shares in the last quarter.

Wall Street Analyst Weigh In

PODD has been the topic of several research reports. Zacks Research upgraded Insulet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada boosted their target price on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Stifel Nicolaus assumed coverage on shares of Insulet in a research note on Tuesday, October 21st. They issued a “buy” rating and a $370.00 price target for the company. JPMorgan Chase & Co. lifted their price target 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, Leerink Partners upped their price objective on shares of Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $379.00.

Insulet Price Performance

PODD opened at $291.57 on Tuesday. The firm has a market cap of $20.51 billion, a PE ratio of 84.51, a P/E/G ratio of 2.04 and a beta of 1.37. The stock has a 50-day moving average price of $315.96 and a 200-day moving average price of $313.48. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The business had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. Insulet’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. Sell-side analysts predict 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.