Engineers Gate Manager LP Grows Stock Holdings in Insulet Corporation $PODD

Engineers Gate Manager LP raised its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 1,798.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,625 shares of the medical instruments supplier’s stock after purchasing an additional 96,272 shares during the quarter. Engineers Gate Manager LP’s holdings in Insulet were worth $31,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Insulet by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock valued at $2,735,991,000 after buying an additional 39,403 shares in the last quarter. Geode Capital Management LLC increased its stake in Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after acquiring an additional 58,309 shares during the last quarter. American Century Companies Inc. raised its position in Insulet by 34.8% during the first quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier’s stock valued at $302,686,000 after purchasing an additional 297,734 shares during the period. Groupama Asset Managment lifted its stake in shares of Insulet by 0.4% in the 1st quarter. Groupama Asset Managment now owns 1,053,759 shares of the medical instruments supplier’s stock valued at $276,728,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Insulet in the 2nd quarter valued at approximately $324,689,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PODD. Royal Bank Of Canada boosted their target price on Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Oppenheimer boosted their price objective on shares of Insulet from $324.00 to $365.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. Cowen reissued a “buy” rating on shares of Insulet in a research note on Thursday, December 4th. UBS Group raised shares of Insulet from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $355.00 to $400.00 in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus initiated coverage on shares of Insulet in a research report on Tuesday, October 21st. They issued a “buy” rating and a $370.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.65.

Insulet Trading Up 0.5%

NASDAQ PODD opened at $295.70 on Friday. The stock has a market cap of $20.80 billion, a PE ratio of 85.71, a PEG ratio of 2.07 and a beta of 1.37. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The company’s 50-day moving average price is $318.88 and its 200-day moving average price is $314.96. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68.

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, beating the consensus estimate of $1.13 by $0.11. The company had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 EPS. Equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.