Insulet Co. (NASDAQ:PODD) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of Insulet Co. (NASDAQ:PODD) by 46.3% during the third quarter, Holdings Channel reports. The firm owned 96,290 shares of the medical instruments supplier’s stock after selling 83,103 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Insulet were worth $22,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after purchasing an additional 443,783 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Insulet by 6.0% during the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after purchasing an additional 75,526 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Insulet by 3.7% in the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after purchasing an additional 33,579 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Insulet by 18.7% in the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after purchasing an additional 139,246 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have commented on PODD. Raymond James raised their price target on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays boosted their target price on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Canaccord Genuity Group upped their price target on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Citigroup boosted their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Piper Sandler lifted their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $242.29.

Insulet Trading Down 1.7 %

NASDAQ PODD opened at $233.63 on Friday. Insulet Co. has a 12 month low of $128.68 and a 12 month high of $243.98. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 70.80, a price-to-earnings-growth ratio of 4.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The firm’s fifty day moving average price is $222.53 and its 200 day moving average price is $199.26.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $488.50 million for the quarter, compared to analyst estimates of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, sell-side analysts expect that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Insulet Company Profile

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.