Insulet Co. (NASDAQ:PODD) Stock Position Cut by Toronto Dominion Bank

Toronto Dominion Bank decreased its stake in shares of Insulet Co. (NASDAQ:PODD) by 29.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,385 shares of the medical instruments supplier’s stock after selling 8,580 shares during the period. Toronto Dominion Bank’s holdings in Insulet were worth $4,114,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after buying an additional 1,556,455 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Baillie Gifford & Co. grew its stake in shares of Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after purchasing an additional 443,783 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of 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 purchasing an additional 33,579 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Insulet by 18.7% during the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after purchasing an additional 139,246 shares during the last quarter.

Insulet Stock Down 1.4 %

PODD opened at $232.03 on Monday. The company has a market capitalization of $16.25 billion, a PE ratio of 70.31, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21. The business has a 50-day moving average of $206.81 and a 200-day moving average of $190.52. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $243.98. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71.

Insulet (NASDAQ:PODD) last released 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 business had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts forecast that Insulet Co. will post 3.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PODD. BTIG Research dropped their price target on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays increased their price target on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Piper Sandler boosted their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Canaccord Genuity Group raised 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. Finally, UBS Group boosted their price target on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.71.

About Insulet

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.