Exchange Traded Concepts LLC Purchases Shares of 518 Insulet Co. (NASDAQ:PODD)

Exchange Traded Concepts LLC acquired a new stake in Insulet Co. (NASDAQ:PODD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 518 shares of the medical instruments supplier’s stock, valued at approximately $121,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after buying an additional 169,506 shares during the period. Baillie Gifford & Co. grew its stake in shares of Insulet by 30.8% in the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after buying an additional 443,783 shares in the last quarter. Clearbridge Investments LLC increased its position in Insulet by 6.0% during the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after buying an additional 75,526 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Insulet by 3.7% in the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after purchasing an additional 33,579 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Insulet by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after purchasing an additional 139,246 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PODD. UBS Group raised their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. BTIG Research lifted their price objective on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler increased their price target on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Canaccord Genuity Group increased their target price on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Raymond James increased their price objective on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average target price of $242.29.

Insulet Price Performance

NASDAQ PODD opened at $236.60 on Wednesday. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. Insulet Co. has a 12 month low of $128.68 and a 12 month high of $243.98. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 4.42 and a beta of 1.21. The company’s 50 day moving average is $219.16 and its two-hundred day moving average is $197.79.

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