Insulet Co. (NASDAQ:PODD) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its holdings in Insulet Co. (NASDAQ:PODD) by 27.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,745 shares of the medical instruments supplier’s stock after acquiring an additional 800 shares during the quarter. Wolverine Asset Management LLC’s holdings in Insulet were worth $756,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PODD. Capital Research Global Investors lifted its stake in shares of Insulet by 19.7% in the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after acquiring an additional 1,556,455 shares in the last quarter. Norges Bank acquired a new stake in Insulet during the fourth quarter valued at approximately $227,655,000. Baillie Gifford & Co. raised its stake in Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock valued at $380,607,000 after buying an additional 443,783 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Insulet by 56.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after buying an additional 316,649 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Insulet by 206.9% during the first quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock valued at $73,632,000 after buying an additional 289,591 shares in the last quarter.

Analysts Set New Price Targets

PODD has been the topic of several research reports. OTR Global restated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 price objective on shares of Insulet in a research note on Tuesday, July 23rd. UBS Group upped their price objective on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Raymond James cut their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, Jefferies Financial Group upped their target price on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 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 stock has a consensus rating of “Moderate Buy” and an average target price of $225.29.

Insulet Stock Performance

Shares of PODD stock opened at $212.51 on Thursday. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $223.56. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 64.40, a price-to-earnings-growth ratio of 3.79 and a beta of 1.21. The business has a 50 day simple moving average of $195.70 and a 200 day simple moving average of $183.93. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71.

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

Insider Buying and Selling

In related news, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now directly owns 35,586 shares in the company, valued at $6,779,488.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark N. Field sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the sale, the senior vice president now owns 12,875 shares of the company’s stock, valued at $2,574,485. The disclosure for this sale can be found here. Insiders sold 10,631 shares of company stock valued at $2,039,316 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

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.