Envestnet Asset Management Inc. Boosts Holdings in Insulet Co. (NASDAQ:PODD)

Envestnet Asset Management Inc. boosted its position in Insulet Co. (NASDAQ:PODD) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,718 shares of the medical instruments supplier’s stock after buying an additional 4,065 shares during the period. Envestnet Asset Management Inc.’s holdings in Insulet were worth $17,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted 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 purchasing an additional 1,556,455 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of 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 purchasing an additional 443,783 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Insulet by 56.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock worth $190,623,000 after purchasing an additional 316,649 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of 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 purchasing an additional 289,591 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Insulet by 462.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 299,654 shares of the medical instruments supplier’s stock worth $51,361,000 after purchasing an additional 246,364 shares in the last quarter.

Insulet Trading Up 1.0 %

Shares of PODD stock opened at $238.97 on Tuesday. The firm has a 50-day moving average price of $203.68 and a 200 day moving average price of $188.92. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $243.98. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 72.42, a PEG ratio of 4.38 and a beta of 1.21. 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 earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share 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 firm 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 firm posted $0.38 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts forecast that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PODD. Canaccord Genuity Group restated a “buy” rating and set a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. OTR Global reiterated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. UBS Group boosted their price objective on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Redburn Atlantic initiated coverage on shares of Insulet in a research report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.21.

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.