Insulet Co. (NASDAQ:PODD) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its stake in shares of Insulet Co. (NASDAQ:PODD) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,323 shares of the medical instruments supplier’s stock after selling 501 shares during the period. Vontobel Holding Ltd.’s holdings in Insulet were worth $541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Insulet during the second quarter valued at approximately $99,978,000. Baillie Gifford & Co. increased 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 valued at $380,607,000 after purchasing an additional 443,783 shares during the period. Canada Pension Plan Investment Board increased 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 valued at $73,632,000 after purchasing an additional 289,591 shares during the period. AMI Asset Management Corp bought a new stake in shares of Insulet in the 1st quarter worth $37,211,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after buying an additional 169,506 shares during the period.

Insulet Price Performance

Shares of PODD opened at $236.48 on Tuesday. The business’s 50-day moving average is $218.20 and its 200-day moving average is $197.28. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 4.35 and a beta of 1.21. Insulet Co. has a fifty-two week low of $128.68 and a fifty-two week high of $243.98.

Insulet (NASDAQ:PODD) last released its quarterly earnings data 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). The company had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. Equities research analysts expect that Insulet Co. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PODD has been the topic of several research reports. Citigroup boosted their price target on shares of Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler increased their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Barclays raised their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Canaccord Genuity Group increased their price objective on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, BTIG Research raised their price objective on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $242.29.

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.