Skandinaviska Enskilda Banken AB publ Sells 24,788 Shares of Insulet Co. (NASDAQ:PODD)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 34.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,664 shares of the medical instruments supplier’s stock after selling 24,788 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Insulet worth $9,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Insulet by 19.7% during the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after buying an additional 1,556,455 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Insulet by 30.8% in the 2nd 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 during the period. Goldman Sachs Group Inc. increased its position in shares of Insulet by 56.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after buying an additional 316,649 shares in the last quarter. Canada Pension Plan Investment Board raised its stake 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 buying an additional 289,591 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Insulet by 462.3% during the first quarter. Los Angeles Capital Management LLC now owns 299,654 shares of the medical instruments supplier’s stock worth $51,361,000 after acquiring an additional 246,364 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on PODD shares. Redburn Atlantic assumed coverage on Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price target for the company. Piper Sandler raised 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. OTR Global reiterated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 price objective on shares of Insulet in a report on Tuesday, July 23rd. Finally, Barclays boosted their price objective on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.21.

Insulet Stock Down 0.5 %

NASDAQ:PODD opened at $236.58 on Friday. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $243.98. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 4.38 and a beta of 1.21. 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’s 50 day moving average price is $202.88 and its two-hundred day moving average price is $188.32.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that Insulet Co. will post 3.04 earnings per share for the current fiscal 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.