Deerfield Management Company L.P. Series C Buys 2,372 Shares of Insulet Co. (NASDAQ:PODD)

Deerfield Management Company L.P. Series C boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,433 shares of the medical instruments supplier’s stock after acquiring an additional 2,372 shares during the period. Deerfield Management Company L.P. Series C owned 0.16% of Insulet worth $22,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PODD. Capital Research Global Investors grew its holdings 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 valued at $2,056,255,000 after purchasing an additional 1,556,455 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Insulet in the second quarter worth $99,978,000. Baillie Gifford & Co. increased its stake in shares of Insulet by 30.8% in the second 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. boosted its holdings in Insulet by 56.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after acquiring an additional 316,649 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings 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 purchasing an additional 289,591 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler raised their target price on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group boosted their target price on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday. OTR Global restated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Barclays increased their price objective on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.71.

Insulet Price Performance

Insulet stock opened at $238.80 on Thursday. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 72.36, a PEG ratio of 4.47 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 business has a 50-day simple moving average of $205.26 and a 200 day simple moving average of $189.69. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $243.98.

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 analysts’ consensus estimates 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 analysts’ expectations 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% compared to the same quarter last year. On average, research analysts forecast that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Insulet 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.