EverSource Wealth Advisors LLC Trims Holdings in Insulet Co. (NASDAQ:PODD)

EverSource Wealth Advisors LLC decreased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 21.5% in the second quarter, HoldingsChannel reports. The firm owned 223 shares of the medical instruments supplier’s stock after selling 61 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Insulet were worth $43,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after acquiring an additional 1,556,455 shares in the last quarter. Vanguard Group Inc. raised its holdings in Insulet by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after purchasing an additional 169,506 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Insulet by 30.8% in the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after purchasing an additional 443,783 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Insulet by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after purchasing an additional 33,579 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Insulet by 18.7% during the second quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock valued at $178,728,000 after buying an additional 139,246 shares during the period.

Insulet Stock Performance

Shares of PODD stock 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. The company has a 50 day moving average price of $206.81 and a 200-day moving average price of $190.42. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $243.98. The firm has a market capitalization of $16.27 billion, a PE ratio of 70.31, a P/E/G ratio of 4.47 and a beta of 1.21.

Insulet (NASDAQ:PODD) last posted 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 company had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. Insulet had a return on equity of 30.73% and a net margin of 21.11%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. As a group, equities research analysts expect that Insulet Co. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

PODD has been the subject of several research analyst reports. Piper Sandler raised their price objective on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Canaccord Genuity Group lifted their price target on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday. BTIG Research reduced their price target on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barclays raised their price objective on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Four equities research 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 company currently has an average rating of “Moderate Buy” and an average target price of $231.71.

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.