Rhumbline Advisers Increases Position in Insulet Co. (NASDAQ:PODD)

Rhumbline Advisers increased its position in shares of Insulet Co. (NASDAQ:PODD) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,561 shares of the medical instruments supplier’s stock after purchasing an additional 757 shares during the period. Rhumbline Advisers owned 0.21% of Insulet worth $29,576,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp lifted its position in shares of Insulet by 154.3% in the fourth quarter. Truist Financial Corp now owns 4,651 shares of the medical instruments supplier’s stock valued at $1,009,000 after acquiring an additional 2,822 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Insulet by 2.8% in the 4th quarter. Van ECK Associates Corp now owns 3,718 shares of the medical instruments supplier’s stock worth $807,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Insulet by 185.0% in the 4th quarter. Natixis Advisors L.P. now owns 29,883 shares of the medical instruments supplier’s stock worth $6,484,000 after purchasing an additional 19,396 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Insulet in the 4th quarter worth approximately $34,000. Finally, M&T Bank Corp grew its holdings in Insulet by 8.9% during the 4th quarter. M&T Bank Corp now owns 7,276 shares of the medical instruments supplier’s stock valued at $1,579,000 after buying an additional 592 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PODD. BTIG Research dropped their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, August 9th. OTR Global reissued a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Jefferies Financial Group raised their price objective on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Barclays boosted their target price on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, UBS Group raised their price target on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.29.

Insider Buying and Selling

In other Insulet news, SVP Mark N. Field sold 2,131 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the sale, the senior vice president now owns 14,375 shares in the company, valued at $2,737,431.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Mark N. Field sold 2,131 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $190.43, for a total value of $405,806.33. Following the transaction, the senior vice president now directly owns 14,375 shares in the company, valued at $2,737,431.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy J. Scannell sold 7,000 shares of Insulet stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the sale, the director now owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The disclosure for this sale can be found here. In the last three months, insiders sold 10,631 shares of company stock valued at $2,039,316. Insiders own 0.47% of the company’s stock.

Insulet Trading Down 0.6 %

Shares of PODD opened at $214.75 on Friday. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $223.56. The company has a market cap of $15.04 billion, a P/E ratio of 65.08, a P/E/G ratio of 3.79 and a beta of 1.21. 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’s fifty day simple moving average is $196.15 and its 200-day simple moving average is $184.32.

Insulet (NASDAQ:PODD) last issued 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). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts expect that Insulet Co. will post 3.04 EPS for the current year.

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.