DNB Asset Management AS Raises Stake in Insulet Corporation $PODD

DNB Asset Management AS boosted its stake in Insulet Corporation (NASDAQ:PODD) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,013 shares of the medical instruments supplier’s stock after purchasing an additional 2,379 shares during the quarter. DNB Asset Management AS owned approximately 0.07% of Insulet worth $14,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PODD. True Wealth Design LLC grew its stake in 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 in the last quarter. Golden State Wealth Management LLC boosted its holdings in Insulet by 202.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 69 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 43 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Insulet in the third quarter worth $49,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Insulet in the second quarter worth $51,000.

Insulet Stock Down 1.9%

Shares of PODD opened at $246.61 on Friday. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88. 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 stock has a 50 day simple moving average of $268.21 and a two-hundred day simple moving average of $303.13. The firm has a market cap of $17.36 billion, a P/E ratio of 70.46, a P/E/G ratio of 1.47 and a beta of 1.41.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results 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 firm had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. On average, analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James Financial reduced their target price on Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Citigroup cut their price objective on Insulet from $380.00 to $345.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Evercore set a $340.00 target price on shares of Insulet in a research note on Thursday, February 19th. Zacks Research lowered shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Barclays reissued an “underweight” rating and issued a $286.00 price target on shares of Insulet in a research note on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $354.57.

Insiders Place Their Bets

In related news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Insulet 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.