Insulet Co. (NASDAQ:PODD) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,433 shares of the medical instruments supplier’s stock after purchasing an additional 48 shares during the quarter. Wedmont Private Capital’s holdings in Insulet were worth $326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in Insulet in the 1st quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of Insulet in the second quarter valued at $32,000. UMB Bank n.a. raised its stake in shares of Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 81 shares during the last quarter. CVA Family Office LLC boosted its position in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 145 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Insulet by 159.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 156 shares during the last quarter.

Insulet Price Performance

Shares of Insulet stock opened at $233.10 on Friday. The business’s fifty day moving average price is $214.20 and its 200 day moving average price is $194.85. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $243.98. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $16.34 billion, a P/E ratio of 42.38, a PEG ratio of 4.34 and a beta of 1.21.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BTIG Research lowered their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Piper Sandler boosted their price target on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Barclays increased their price objective on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, UBS Group boosted their target price 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. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $234.60.

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.