Insulet Co. (NASDAQ:PODD) Shares Acquired by Scientech Research LLC

Scientech Research LLC increased its stake in Insulet Co. (NASDAQ:PODD) by 181.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,978 shares of the medical instruments supplier’s stock after buying an additional 5,783 shares during the quarter. Scientech Research LLC’s holdings in Insulet were worth $1,812,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Lighthouse Investment Partners LLC acquired a new stake in Insulet in the second quarter worth about $3,168,000. MBB Public Markets I LLC acquired a new stake in Insulet in the 2nd quarter valued at about $955,000. Deerfield Management Company L.P. Series C lifted its holdings in Insulet by 2.2% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 112,433 shares of the medical instruments supplier’s stock valued at $22,689,000 after acquiring an additional 2,372 shares during the last quarter. APG Asset Management US Inc. lifted its holdings in Insulet by 2.4% in the 2nd quarter. APG Asset Management US Inc. now owns 20,030 shares of the medical instruments supplier’s stock valued at $3,929,000 after acquiring an additional 477 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Insulet by 44.8% in the 2nd quarter. AQR Capital Management LLC now owns 179,192 shares of the medical instruments supplier’s stock valued at $36,161,000 after acquiring an additional 55,467 shares during the last quarter.

Insulet Trading Down 1.4 %

Shares of PODD stock opened at $235.43 on Friday. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $243.98. 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’s 50 day moving average is $206.07 and its two-hundred day moving average is $190.01. The company has a market cap of $16.51 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $488.00 million. During the same quarter last year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts predict that Insulet Co. will post 3.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler upped their target price on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Redburn Atlantic started coverage on Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price on the stock. Barclays upped their target price on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, OTR Global restated a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average target price of $231.71.

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.