D1 Capital Partners L.P. Reduces Holdings in Insulet Co. (NASDAQ:PODD)

D1 Capital Partners L.P. reduced its position in Insulet Co. (NASDAQ:PODD) by 72.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 270,652 shares of the medical instruments supplier’s stock after selling 726,517 shares during the period. Insulet accounts for about 0.9% of D1 Capital Partners L.P.’s holdings, making the stock its 27th biggest holding. D1 Capital Partners L.P. owned 0.39% of Insulet worth $54,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PODD. Capital Research Global Investors lifted its stake in Insulet by 19.7% in the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after buying an additional 1,556,455 shares during the last quarter. Baillie Gifford & Co. raised its position in Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after purchasing an additional 443,783 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Insulet by 56.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock worth $190,623,000 after purchasing an additional 316,649 shares during the period. Canada Pension Plan Investment Board grew its position in Insulet by 206.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock worth $73,632,000 after purchasing an additional 289,591 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Insulet by 462.3% in the first quarter. Los Angeles Capital Management LLC now owns 299,654 shares of the medical instruments supplier’s stock valued at $51,361,000 after purchasing an additional 246,364 shares during the period.

Analyst Upgrades and Downgrades

PODD has been the topic of a number of research reports. OTR Global reissued a “mixed” rating on shares of Insulet in a report on Monday, June 10th. BTIG Research lowered their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 target price on shares of Insulet in a report on Tuesday, July 23rd. Barclays increased their price target on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Piper Sandler boosted their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.21.

Insulet Stock Down 0.5 %

PODD stock opened at $236.58 on Monday. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $243.98. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The company has a market cap of $16.59 billion, a P/E ratio of 71.69, a P/E/G ratio of 4.38 and a beta of 1.21. The company’s 50-day moving average price is $202.88 and its 200 day moving average price is $188.48.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $488.50 million during 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 business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, research 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.