Pier 88 Investment Partners LLC Raises Stock Position in Insulet Corporation $PODD

Pier 88 Investment Partners LLC lifted its position in shares of Insulet Corporation (NASDAQ:PODD) by 145.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,610 shares of the medical instruments supplier’s stock after acquiring an additional 3,920 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Insulet were worth $2,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Insulet during the second quarter worth $324,689,000. Qube Research & Technologies Ltd acquired a new stake in Insulet in the 2nd quarter valued at about $131,439,000. Worldquant Millennium Advisors LLC purchased a new position in Insulet during the 2nd quarter valued at about $80,082,000. Munro Partners raised its position in Insulet by 1,483.0% during the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock worth $70,156,000 after acquiring an additional 212,885 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Insulet by 487.5% in the second quarter. AustralianSuper Pty Ltd now owns 205,168 shares of the medical instruments supplier’s stock valued at $64,460,000 after purchasing an additional 170,247 shares in the last quarter.

Insulet Trading Down 0.1%

NASDAQ PODD opened at $271.31 on Tuesday. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 78.64, a PEG ratio of 1.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88. The company’s 50 day moving average price is $297.35 and its 200 day moving average price is $310.15.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same period in the previous year, the firm earned $1.08 earnings per share. Insulet’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, sell-side analysts predict that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Ratings Changes

PODD has been the subject of several research reports. Royal Bank Of Canada lifted their price objective on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Stifel Nicolaus started coverage on Insulet in a research report on Tuesday, October 21st. They set a “buy” rating and a $370.00 price objective for the company. Wolfe Research upped their target price on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Zacks Research downgraded shares of Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $365.00 price objective on shares of Insulet in a research report on Friday, January 9th. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $379.10.

Insulet Company 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.