Hartford Investment Management Co. Reduces Position in Insulet Co. (NASDAQ:PODD)

Hartford Investment Management Co. lessened its stake in shares of Insulet Co. (NASDAQ:PODD) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,434 shares of the medical instruments supplier’s stock after selling 51 shares during the period. Hartford Investment Management Co.’s holdings in Insulet were worth $1,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Greenleaf Trust lifted its stake in Insulet by 4.2% during the 3rd quarter. Greenleaf Trust now owns 1,783 shares of the medical instruments supplier’s stock valued at $415,000 after acquiring an additional 72 shares during the period. Lecap Asset Management Ltd. lifted its stake in Insulet by 25.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 4,560 shares of the medical instruments supplier’s stock valued at $1,061,000 after acquiring an additional 918 shares during the period. Private Advisor Group LLC lifted its stake in Insulet by 131.8% during the 3rd quarter. Private Advisor Group LLC now owns 7,387 shares of the medical instruments supplier’s stock valued at $1,719,000 after acquiring an additional 4,200 shares during the period. James Hambro & Partners LLP acquired a new stake in Insulet during the 3rd quarter valued at approximately $213,000. Finally, Revolve Wealth Partners LLC acquired a new stake in Insulet during the 3rd quarter valued at approximately $368,000.

Analyst Upgrades and Downgrades

PODD has been the subject of several analyst reports. Citigroup boosted their target price on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Piper Sandler boosted their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Raymond James boosted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays upped their price objective on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average price target of $242.29.

Insulet Trading Down 1.7 %

Shares of PODD opened at $233.63 on Friday. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. Insulet Co. has a 12-month low of $128.68 and a 12-month high of $243.98. The firm has a 50-day moving average price of $222.53 and a 200 day moving average price of $199.26. The firm has a market capitalization of $16.36 billion, a P/E ratio of 70.80, a P/E/G ratio of 4.42 and a beta of 1.21.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 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 analyst estimates of $488.00 million. During the same period in the previous year, the company earned $0.38 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that Insulet Co. will post 3.04 EPS for the current year.

Insulet 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.