Insulet Co. (NASDAQ:PODD) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 3.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,585 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Insulet were worth $1,299,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PODD. Wedmont Private Capital raised its holdings in Insulet by 3.5% in the third quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier’s stock valued at $326,000 after acquiring an additional 48 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Insulet by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier’s stock worth $1,264,000 after purchasing an additional 66 shares during the last quarter. Greenleaf Trust grew its stake in Insulet by 4.2% in the third quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock worth $415,000 after purchasing an additional 72 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 81 shares during the last quarter.

Insulet Trading Up 2.4 %

Shares of PODD stock opened at $244.98 on Friday. Insulet Co. has a 1 year low of $151.56 and a 1 year high of $248.55. The firm has a market capitalization of $17.18 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 4.43 and a beta of 1.22. The stock has a fifty day moving average of $230.70 and a two-hundred day moving average of $203.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60.

Insulet (NASDAQ:PODD) last announced 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 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 the consensus estimate of $488.00 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts expect that Insulet Co. will post 3.04 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Sanford C. Bernstein began coverage on Insulet in a research report on Wednesday. They issued an “outperform” rating and a $300.00 target price for the company. BTIG Research lifted their price objective on shares of Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler increased their target price on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Raymond James lifted their price target on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, 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 note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average target price of $246.13.

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.