Graypoint LLC Invests $206,000 in Insulet Co. (NASDAQ:PODD)

Graypoint LLC bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the third quarter, HoldingsChannel reports. The firm bought 883 shares of the medical instruments supplier’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after buying an additional 169,506 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of 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 boosted its holdings in Insulet by 6.0% in the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock worth $270,364,000 after purchasing an additional 75,526 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Insulet by 3.7% in the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after purchasing an additional 33,579 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Insulet by 18.7% in the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after purchasing an additional 139,246 shares during the last quarter.

Insulet Trading Up 9.4 %

NASDAQ:PODD opened at $268.00 on Friday. Insulet Co. has a one year low of $151.56 and a one year high of $275.52. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The firm has a market cap of $18.79 billion, a P/E ratio of 48.73, a P/E/G ratio of 4.47 and a beta of 1.22. The firm has a 50-day simple moving average of $232.01 and a 200-day simple moving average of $204.22.

Insulet (NASDAQ:PODD) last posted 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). The business had revenue of $488.50 million during 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 company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities analysts anticipate that Insulet Co. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PODD. Canaccord Genuity Group boosted their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Piper Sandler lifted 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. BTIG Research lifted their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday. Barclays lifted their price target 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. Finally, Raymond James lifted their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.80.

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.