Symmetry Investments LP Makes New $323,000 Investment in Insulet Co. (NASDAQ:PODD)

Symmetry Investments LP bought a new stake in Insulet Co. (NASDAQ:PODD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,600 shares of the medical instruments supplier’s stock, valued at approximately $323,000.

Several other hedge funds also recently modified their holdings of the business. Sei Investments Co. boosted its stake in Insulet by 148.6% in the second quarter. Sei Investments Co. now owns 29,289 shares of the medical instruments supplier’s stock valued at $5,911,000 after acquiring an additional 17,507 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Insulet by 36.3% in the 2nd quarter. Pacer Advisors Inc. now owns 6,506 shares of the medical instruments supplier’s stock valued at $1,313,000 after purchasing an additional 1,734 shares during the period. Beck Bode LLC lifted its stake in shares of Insulet by 33.6% in the 2nd quarter. Beck Bode LLC now owns 93,187 shares of the medical instruments supplier’s stock valued at $18,805,000 after purchasing an additional 23,426 shares during the period. Blair William & Co. IL boosted its position in shares of Insulet by 14.5% in the 2nd quarter. Blair William & Co. IL now owns 123,786 shares of the medical instruments supplier’s stock worth $24,980,000 after purchasing an additional 15,709 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Insulet by 15.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,812 shares of the medical instruments supplier’s stock worth $2,368,000 after purchasing an additional 1,540 shares during the period.

Analyst Ratings Changes

Several research firms have weighed in on PODD. BTIG Research cut their target price on 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 price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. UBS Group boosted their price objective on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Redburn Atlantic assumed coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.21.

Insulet Stock Performance

PODD opened at $236.58 on Friday. The business’s 50-day simple moving average is $202.88 and its 200 day simple moving average is $188.32. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $243.98. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The firm has a market capitalization of $16.59 billion, a PE ratio of 71.69, a PEG ratio of 4.38 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 the consensus estimate 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 analyst estimates of $488.00 million. During the same period in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side 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.