Victory Capital Management Inc. Decreases Stock Holdings in Insulet Co. (NASDAQ:PODD)

Victory Capital Management Inc. lessened its stake in Insulet Co. (NASDAQ:PODD) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,982 shares of the medical instruments supplier’s stock after selling 4,044 shares during the quarter. Victory Capital Management Inc.’s holdings in Insulet were worth $6,858,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Insulet during the second quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in shares of Insulet during the first quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in shares of Insulet by 81.0% during the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Insulet in the fourth quarter valued at approximately $40,000. Finally, CVA Family Office LLC boosted its stake in shares of Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 145 shares during the last quarter.

Analysts Set New Price Targets

PODD has been the topic of a number of research reports. Canaccord Genuity Group restated a “buy” rating and issued a $234.00 price objective on shares of Insulet in a report on Tuesday, July 23rd. OTR Global restated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Redburn Atlantic assumed coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective for the company. UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, BTIG Research cut their price target on Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.29.

Insulet Price Performance

Insulet stock opened at $233.87 on Monday. The company’s 50 day simple moving average is $199.23 and its 200-day simple moving average is $186.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $234.71. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 70.87, a price-to-earnings-growth ratio of 4.26 and a beta of 1.21.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Insulet Co. will post 3.04 earnings per share for the current 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.