Insulet Co. (NASDAQ:PODD) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its stake in Insulet Co. (NASDAQ:PODD) by 1.2% in the second quarter, HoldingsChannel reports. The fund owned 54,460 shares of the medical instruments supplier’s stock after selling 689 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Insulet were worth $10,990,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Insulet by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 124,280 shares of the medical instruments supplier’s stock valued at $26,968,000 after acquiring an additional 834 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Insulet by 15.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,487 shares of the medical instruments supplier’s stock valued at $1,624,000 after purchasing an additional 982 shares in the last quarter. UBS Group AG raised its holdings in shares of Insulet by 0.9% during the 4th quarter. UBS Group AG now owns 61,404 shares of the medical instruments supplier’s stock valued at $13,323,000 after purchasing an additional 535 shares in the last quarter. Corient Private Wealth LLC grew its stake in Insulet by 72.7% in the 4th quarter. Corient Private Wealth LLC now owns 8,053 shares of the medical instruments supplier’s stock valued at $1,747,000 after buying an additional 3,389 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Insulet by 10.0% in the 4th quarter. Assetmark Inc. now owns 4,711 shares of the medical instruments supplier’s stock valued at $1,022,000 after buying an additional 427 shares during the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Insulet in a research note on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price on the stock. Barclays raised their target price on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. OTR Global restated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Piper Sandler raised their price target 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. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.21.

Insulet Trading Up 0.0 %

Shares of PODD stock opened at $239.01 on Wednesday. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $243.98. The company has a market capitalization of $16.74 billion, a P/E ratio of 72.43, a P/E/G ratio of 4.38 and a beta of 1.21. The firm has a 50-day moving average price of $204.43 and a 200 day moving average price of $189.34. 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 (NASDAQ:PODD) last announced 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 net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same period in the prior year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts forecast 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.