Raymond James & Associates Buys 1,367 Shares of Insulet Co. (NASDAQ:PODD)

Raymond James & Associates increased its stake in shares of Insulet Co. (NASDAQ:PODD) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,456 shares of the medical instruments supplier’s stock after acquiring an additional 1,367 shares during the quarter. Raymond James & Associates owned approximately 0.05% of Insulet worth $8,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PODD. Marshall Wace LLP bought a new position in Insulet during the 2nd quarter worth approximately $99,978,000. Baillie Gifford & Co. grew its position in Insulet by 30.8% during the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after acquiring an additional 443,783 shares during the last quarter. 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 acquiring an additional 289,591 shares during the last quarter. AMI Asset Management Corp bought a new position in Insulet during the 1st quarter worth approximately $37,211,000. Finally, Vanguard Group Inc. grew its position in Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their price objective on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Raymond James increased their price objective on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Piper Sandler increased their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. BTIG Research increased their price objective on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Barclays increased their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.29.

Insulet Stock Down 0.4 %

Shares of NASDAQ:PODD opened at $232.37 on Wednesday. The stock has a fifty day simple moving average of $224.27 and a two-hundred day simple moving average of $200.35. The stock has a market capitalization of $16.29 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 4.36 and a beta of 1.21. Insulet Co. has a 12-month low of $128.68 and a 12-month 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.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data 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 company had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, research analysts anticipate 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.