Allstate Corp Acquires New Stake in Insulet Corporation $PODD

Allstate Corp bought a new position in Insulet Corporation (NASDAQ:PODD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,495 shares of the medical instruments supplier’s stock, valued at approximately $770,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Insulet by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock worth $2,735,991,000 after acquiring an additional 39,403 shares during the period. Geode Capital Management LLC lifted its holdings in Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after purchasing an additional 58,309 shares during the last quarter. Norges Bank bought a new position in Insulet during the second quarter worth about $324,689,000. Federated Hermes Inc. boosted its position in Insulet by 14.3% during the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Insulet by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after purchasing an additional 6,763 shares in the last quarter.

Analysts Set New Price Targets

PODD has been the topic of a number of recent research reports. Sanford C. Bernstein dropped their price target on shares of Insulet from $410.00 to $380.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Wolfe Research increased their target price on Insulet from $350.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a report on Wednesday, October 8th. Rothschild & Co Redburn lifted their price target on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company increased their price objective on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.10.

Insulet Trading Down 1.7%

Shares of PODD stock opened at $280.00 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a market capitalization of $19.70 billion, a PE ratio of 81.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.40. The business’s fifty day moving average is $299.71 and its 200 day moving average is $310.35.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.13 by $0.11. The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. On average, equities research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.