Algert Global LLC Increases Position in Insulet Co. (NASDAQ:PODD)

Algert Global LLC raised its position in shares of Insulet Co. (NASDAQ:PODD) by 25.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,254 shares of the medical instruments supplier’s stock after buying an additional 460 shares during the period. Algert Global LLC’s holdings in Insulet were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PODD. International Assets Investment Management LLC acquired a new position in Insulet in the 2nd quarter valued at about $32,000. Sunbelt Securities Inc. acquired a new position in Insulet during the 1st quarter worth approximately $29,000. UMB Bank n.a. increased its position in shares of Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares during the last quarter. CVA Family Office LLC lifted its position in shares of Insulet by 138.1% during the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 145 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Insulet by 159.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 156 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on PODD shares. Canaccord Genuity Group upped their price objective on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler increased their price target 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. UBS Group boosted their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Citigroup increased their target price on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, BTIG Research reduced their price target on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Insulet Stock Performance

NASDAQ:PODD opened at $227.79 on Tuesday. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $243.98. 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 $211.33 and its 200 day moving average price is $193.19. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of 69.03, a price-to-earnings-growth ratio of 4.35 and a beta of 1.21.

Insulet (NASDAQ:PODD) last released its quarterly earnings data 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). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The company had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Insulet Co. will post 3.04 EPS for the current year.

About Insulet

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.