Alecta Tjanstepension Omsesidigt Increases Stake in Insulet Corporation $PODD

Alecta Tjanstepension Omsesidigt raised its stake in Insulet Corporation (NASDAQ:PODD) by 37.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 365,000 shares of the medical instruments supplier’s stock after purchasing an additional 99,700 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.52% of Insulet worth $112,683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PODD. True Wealth Design LLC raised its stake in shares of Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 43 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Insulet in the 3rd quarter worth approximately $49,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Insulet during the third quarter valued at approximately $49,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Insulet during the second quarter valued at approximately $51,000.

Insider Activity at Insulet

In related news, Director Michael R. Minogue purchased 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.

Insulet Stock Down 0.1%

NASDAQ:PODD opened at $230.28 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The firm’s 50-day moving average price is $254.64 and its 200-day moving average price is $294.78. The company has a market capitalization of $16.21 billion, a PE ratio of 65.79, a P/E/G ratio of 1.38 and a beta of 1.42. Insulet Corporation has a 1-year low of $216.49 and a 1-year high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The business had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Insulet’s quarterly revenue was up 31.2% on a year-over-year basis. On average, equities analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PODD. Citigroup dropped their price target on Insulet from $345.00 to $338.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. The Goldman Sachs Group decreased their price objective on shares of Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Oppenheimer dropped their target price on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Sanford C. Bernstein reduced their price target on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Finally, TD Cowen downgraded shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target for the company. in a research note on Monday, January 26th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.24.

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.