Insulet Co. (NASDAQ:PODD) Position Reduced by Quarry LP

Quarry LP trimmed its position in Insulet Co. (NASDAQ:PODD) by 60.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280 shares of the medical instruments supplier’s stock after selling 431 shares during the quarter. Quarry LP’s holdings in Insulet were worth $57,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Diversified Trust Co grew its position in Insulet by 90.9% during the 2nd quarter. Diversified Trust Co now owns 9,130 shares of the medical instruments supplier’s stock worth $1,842,000 after purchasing an additional 4,348 shares in the last quarter. SG Americas Securities LLC raised its position in Insulet by 349.3% during the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after buying an additional 22,993 shares during the period. Duality Advisers LP raised its position in Insulet by 89.4% during the first quarter. Duality Advisers LP now owns 19,131 shares of the medical instruments supplier’s stock valued at $3,279,000 after buying an additional 9,029 shares during the period. Diversify Advisory Services LLC purchased a new stake in Insulet in the 1st quarter worth about $1,043,000. Finally, Intech Investment Management LLC boosted its position in Insulet by 113.8% during the 1st quarter. Intech Investment Management LLC now owns 6,649 shares of the medical instruments supplier’s stock worth $1,140,000 after acquiring an additional 3,539 shares during the period.

Insulet Stock Down 0.0 %

Shares of Insulet stock opened at $229.94 on Friday. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $243.98. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $209.88 and a two-hundred day moving average price of $192.02. The stock has a market capitalization of $16.10 billion, a P/E ratio of 69.68, a PEG ratio of 4.34 and a beta of 1.21.

Insulet (NASDAQ:PODD) last posted 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). The firm had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities analysts expect that Insulet Co. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. BTIG Research dropped their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group upped their price objective on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler lifted their target price 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. Barclays upped their price target on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, UBS Group increased their price objective on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.60.

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.