1,092 Shares in Insulet Co. (NASDAQ:PODD) Acquired by Profund Advisors LLC

Profund Advisors LLC purchased a new stake in Insulet Co. (NASDAQ:PODD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,092 shares of the medical instruments supplier’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PODD. Symmetry Investments LP acquired a new stake in shares of Insulet in the second quarter valued at $323,000. Sei Investments Co. increased its holdings in Insulet by 148.6% during the 2nd quarter. Sei Investments Co. now owns 29,289 shares of the medical instruments supplier’s stock worth $5,911,000 after purchasing an additional 17,507 shares during the period. Pacer Advisors Inc. raised its position in Insulet by 36.3% in the 2nd quarter. Pacer Advisors Inc. now owns 6,506 shares of the medical instruments supplier’s stock valued at $1,313,000 after purchasing an additional 1,734 shares in the last quarter. Beck Bode LLC boosted its stake in shares of Insulet by 33.6% in the 2nd quarter. Beck Bode LLC now owns 93,187 shares of the medical instruments supplier’s stock valued at $18,805,000 after buying an additional 23,426 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Insulet by 14.5% during the second quarter. Blair William & Co. IL now owns 123,786 shares of the medical instruments supplier’s stock worth $24,980,000 after buying an additional 15,709 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Piper Sandler raised their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Canaccord Genuity Group lifted their price objective on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group increased their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Barclays lifted their price target on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.71.

Insulet Trading Down 1.4 %

PODD opened at $232.03 on Friday. The company has a quick ratio of 2.71, a current ratio of 3.60 and a debt-to-equity ratio of 1.36. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $243.98. The business’s 50 day moving average is $206.81 and its two-hundred day moving average is $190.42. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 70.31, a price-to-earnings-growth ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, research analysts predict that Insulet Co. will post 3.04 EPS for the current year.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.