Wealth Alliance Makes New Investment in Insulet Co. (NASDAQ:PODD)

Wealth Alliance purchased a new stake in shares of Insulet Co. (NASDAQ:PODD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,083 shares of the medical instruments supplier’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PODD. Capital Research Global Investors boosted its position in Insulet by 19.7% in the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after purchasing an additional 1,556,455 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Insulet by 30.8% in the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after buying an additional 443,783 shares during the last quarter. William Blair Investment Management LLC grew its position in Insulet by 3.7% during the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after buying an additional 33,579 shares during the period. Finally, American Century Companies Inc. increased its holdings 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 buying an additional 139,246 shares during the last quarter.

Insulet Stock Performance

PODD opened at $236.58 on Friday. 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 capitalization of $16.59 billion, a price-to-earnings ratio of 71.69, a PEG ratio of 4.38 and a beta of 1.21. The company has a fifty day moving average of $202.19 and a 200 day moving average of $187.67. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $243.98.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PODD shares. BTIG Research cut their price objective 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. UBS Group boosted 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $234.00 price objective on shares of Insulet in a research note on Tuesday, July 23rd. Piper Sandler boosted their price objective on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Redburn Atlantic assumed coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Insulet currently has an average 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.