First Light Asset Management LLC Grows Stock Holdings in Insulet Co. (NASDAQ:PODD)

First Light Asset Management LLC lifted its stake in Insulet Co. (NASDAQ:PODD) by 42.6% in the second quarter, HoldingsChannel.com reports. The firm owned 215,637 shares of the medical instruments supplier’s stock after purchasing an additional 64,373 shares during the quarter. Insulet comprises 3.8% of First Light Asset Management LLC’s investment portfolio, making the stock its 8th largest position. First Light Asset Management LLC’s holdings in Insulet were worth $43,516,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Insulet by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 124,280 shares of the medical instruments supplier’s stock valued at $26,968,000 after buying an additional 834 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Insulet by 15.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,487 shares of the medical instruments supplier’s stock valued at $1,624,000 after acquiring an additional 982 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Insulet by 37.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,479 shares of the medical instruments supplier’s stock worth $2,274,000 after purchasing an additional 2,856 shares during the period. UBS Group AG raised its holdings in Insulet by 0.9% during the 4th quarter. UBS Group AG now owns 61,404 shares of the medical instruments supplier’s stock worth $13,323,000 after purchasing an additional 535 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Insulet by 72.7% during the 4th quarter. Corient Private Wealth LLC now owns 8,053 shares of the medical instruments supplier’s stock valued at $1,747,000 after purchasing an additional 3,389 shares during the period.

Insulet Price Performance

NASDAQ PODD opened at $238.97 on Tuesday. 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 stock has a market cap of $16.75 billion, a price-to-earnings ratio of 72.42, a PEG ratio of 4.38 and a beta of 1.21. The business has a 50 day simple moving average of $203.68 and a 200 day simple moving average of $188.92. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $243.98.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. Analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on PODD. Redburn Atlantic initiated coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Barclays lifted their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. BTIG Research cut their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group boosted 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.21.

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.