Harbor Capital Advisors Inc. Raises Position in Insulet Co. (NASDAQ:PODD)

Harbor Capital Advisors Inc. lifted its stake in shares of Insulet Co. (NASDAQ:PODD) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,290 shares of the medical instruments supplier’s stock after buying an additional 261 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Insulet were worth $533,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PODD. Norden Group LLC lifted its stake in shares of Insulet by 52.4% in the first quarter. Norden Group LLC now owns 2,718 shares of the medical instruments supplier’s stock worth $466,000 after acquiring an additional 934 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Insulet by 34.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,060 shares of the medical instruments supplier’s stock valued at $1,724,000 after buying an additional 2,573 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Insulet by 5.4% during the first quarter. Nordea Investment Management AB now owns 5,362 shares of the medical instruments supplier’s stock worth $914,000 after buying an additional 274 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Insulet by 60.4% in the first quarter. Daiwa Securities Group Inc. now owns 10,477 shares of the medical instruments supplier’s stock worth $1,796,000 after buying an additional 3,946 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Insulet in the first quarter valued at $69,000.

Insulet Stock Down 0.8 %

Shares of PODD stock opened at $239.30 on Thursday. Insulet Co. has a 1 year low of $151.56 and a 1 year high of $248.55. 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 business’s fifty day moving average is $229.21 and its 200-day moving average is $202.69. The stock has a market cap of $16.78 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 4.43 and a beta of 1.22.

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

Analysts Set New Price Targets

PODD has been the subject of a number of research reports. Barclays lifted their target price on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Canaccord Genuity Group increased their target price on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler boosted their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Sanford C. Bernstein began coverage on shares of Insulet in a report on Wednesday. They issued an “outperform” rating and a $300.00 price objective on the stock. Finally, BTIG Research boosted their target price on shares of Insulet from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $246.13.

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.