Insulet Corporation $PODD Shares Bought by Ethic Inc.

Ethic Inc. grew its position in Insulet Corporation (NASDAQ:PODD) by 54.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,594 shares of the medical instruments supplier’s stock after purchasing an additional 2,674 shares during the quarter. Ethic Inc.’s holdings in Insulet were worth $2,345,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Marshall Financial Group LLC acquired a new stake in shares of Insulet during the 2nd quarter worth about $943,000. Inspire Investing LLC increased its stake in Insulet by 299.5% in the first quarter. Inspire Investing LLC now owns 4,119 shares of the medical instruments supplier’s stock valued at $1,082,000 after purchasing an additional 3,088 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Insulet by 41.3% during the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after purchasing an additional 3,514 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of Insulet during the 2nd quarter worth approximately $17,429,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Insulet by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 579,302 shares of the medical instruments supplier’s stock worth $152,130,000 after buying an additional 10,628 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on PODD. Piper Sandler increased their target price on shares of Insulet from $320.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Royal Bank Of Canada raised their price objective on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Oppenheimer lifted their target price on Insulet from $324.00 to $365.00 and gave the stock an “outperform” rating in a research report on Monday, September 8th. The Goldman Sachs Group upped their target price on Insulet from $375.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Rothschild & Co Redburn lifted their price target on Insulet from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $379.00.

Insulet Stock Performance

Shares of PODD stock opened at $284.24 on Thursday. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The stock’s 50-day moving average price is $311.14 and its 200 day moving average price is $312.57. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $20.00 billion, a PE ratio of 82.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.37.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The business had revenue of $521.70 million for the quarter, compared to analyst estimates of $678.70 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, equities research analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.