Insulet Corporation $PODD Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its holdings in Insulet Corporation (NASDAQ:PODD) by 60.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,783 shares of the medical instruments supplier’s stock after selling 28,267 shares during the period. Mediolanum International Funds Ltd’s holdings in Insulet were worth $5,834,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Insulet by 44.8% in the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock valued at $54,000 after purchasing an additional 64 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in shares of Insulet in the second quarter worth about $220,000. Ameritas Advisory Services LLC acquired a new stake in shares of Insulet in the second quarter valued at about $134,000. Ascent Group LLC purchased a new stake in shares of Insulet during the 2nd quarter valued at about $203,000. Finally, QRG Capital Management Inc. raised its holdings in shares of Insulet by 16.2% during the 2nd quarter. QRG Capital Management Inc. now owns 2,358 shares of the medical instruments supplier’s stock valued at $741,000 after buying an additional 328 shares during the period.

Insulet Stock Up 0.3%

PODD stock opened at $256.53 on Tuesday. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 74.36, a PEG ratio of 1.42 and a beta of 1.40. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88. The firm has a fifty day moving average price of $289.93 and a two-hundred day moving average price of $309.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on PODD. Raymond James Financial upped their target price on shares of Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Zacks Research lowered shares of Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Leerink Partners upped their price objective on shares of Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Truist Financial dropped their target price on Insulet from $412.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Finally, Canaccord Genuity Group boosted their price target on Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.05.

Insulet Company Profile

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.