First Trust Direct Indexing L.P. Has $526,000 Stock Position in Insulet Co. (NASDAQ:PODD)

First Trust Direct Indexing L.P. lowered its position in shares of Insulet Co. (NASDAQ:PODD) by 23.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,258 shares of the medical instruments supplier’s stock after selling 694 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Insulet were worth $526,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock valued at $1,405,328,000 after purchasing an additional 169,506 shares during the period. Baillie Gifford & Co. grew its position in Insulet by 30.8% during 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 purchasing an additional 443,783 shares in the last quarter. Clearbridge Investments LLC increased its stake in Insulet by 6.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after buying an additional 75,526 shares during the period. William Blair Investment Management LLC lifted its position in Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after buying an additional 33,579 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Insulet by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after buying an additional 139,246 shares during the period.

Insulet Price Performance

NASDAQ PODD opened at $235.61 on Friday. Insulet Co. has a 1 year low of $137.68 and a 1 year high of $243.98. The company has a fifty day simple moving average of $227.10 and a 200 day simple moving average of $201.20. 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 company has a market cap of $16.52 billion, a P/E ratio of 42.84, a P/E/G ratio of 4.32 and a beta of 1.22.

Insulet (NASDAQ:PODD) last released its quarterly 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). The firm had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts predict that Insulet Co. will post 3.04 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. UBS Group upped their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Citigroup lifted their price target on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Barclays increased their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Raymond James lifted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.29.

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.