Insulet Corporation $PODD Shares Acquired by Munro Partners

Munro Partners boosted its position in Insulet Corporation (NASDAQ:PODD) by 1,483.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,240 shares of the medical instruments supplier’s stock after buying an additional 212,885 shares during the quarter. Insulet accounts for approximately 1.9% of Munro Partners’ holdings, making the stock its 25th biggest holding. Munro Partners owned about 0.32% of Insulet worth $70,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Insulet by 2.1% during the first quarter. HighTower Advisors LLC now owns 2,882 shares of the medical instruments supplier’s stock worth $757,000 after acquiring an additional 60 shares during the last quarter. AlphaQuest LLC grew its stake in Insulet by 23.3% during the 1st quarter. AlphaQuest LLC now owns 1,590 shares of the medical instruments supplier’s stock valued at $418,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Insulet by 23.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 490 shares of the medical instruments supplier’s stock worth $127,000 after purchasing an additional 92 shares during the last quarter. SVB Wealth LLC purchased a new stake in Insulet during the 1st quarter worth approximately $126,000. Finally, Synovus Financial Corp raised its position in shares of Insulet by 45.4% in the 1st quarter. Synovus Financial Corp now owns 4,310 shares of the medical instruments supplier’s stock valued at $1,132,000 after purchasing an additional 1,346 shares in the last quarter.

Insulet Trading Down 2.1%

NASDAQ PODD opened at $285.50 on Wednesday. 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 has a 50-day simple moving average of $315.30 and a 200-day simple moving average of $313.30. The firm has a market capitalization of $20.08 billion, a PE ratio of 82.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37.

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, 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 firm had revenue of $521.70 million for the quarter, compared to analyst estimates of $678.70 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. Insulet’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Evercore ISI initiated coverage on shares of Insulet in a research note on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a research report on Friday, November 21st. JPMorgan Chase & Co. upped their target price on shares of Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, Truist Financial reduced their price target on shares of Insulet from $412.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $379.00.

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.