Handelsbanken Fonder AB Raises Stock Holdings in Insulet Co. (NASDAQ:PODD)

Handelsbanken Fonder AB boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,216 shares of the medical instruments supplier’s stock after buying an additional 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Insulet were worth $4,007,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PODD. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Insulet by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier’s stock worth $1,264,000 after purchasing an additional 66 shares during the period. UMB Bank n.a. boosted its position 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 worth $37,000 after buying an additional 81 shares during the period. Moody National Bank Trust Division grew its stake in shares of Insulet by 2.6% in the first quarter. Moody National Bank Trust Division now owns 3,439 shares of the medical instruments supplier’s stock valued at $589,000 after buying an additional 87 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Insulet by 7.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,397 shares of the medical instruments supplier’s stock valued at $239,000 after buying an additional 93 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in Insulet by 23.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 505 shares of the medical instruments supplier’s stock worth $118,000 after acquiring an additional 95 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have issued reports on PODD shares. Canaccord Genuity Group boosted their price target on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BTIG Research cut their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler increased their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Barclays upped their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Citigroup lifted their target price on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.60.

Insulet Stock Performance

Shares of PODD opened at $229.33 on Wednesday. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $243.98. The stock has a 50 day moving average price of $212.04 and a 200 day moving average price of $193.64. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 69.49, a price-to-earnings-growth ratio of 4.35 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 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 company had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period last year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts predict that Insulet Co. will post 3.04 EPS for the current fiscal year.

Insulet 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.