Insulet Co. (NASDAQ:PODD) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its holdings in Insulet Co. (NASDAQ:PODD) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,897 shares of the medical instruments supplier’s stock after acquiring an additional 644 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Insulet were worth $5,630,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. LGT Group Foundation purchased a new position in Insulet in the 2nd quarter valued at $281,000. Norden Group LLC grew its position in Insulet by 28.0% in the 2nd quarter. Norden Group LLC now owns 3,478 shares of the medical instruments supplier’s stock valued at $702,000 after buying an additional 760 shares during the last quarter. EFG Asset Management Americas Corp. grew its position in Insulet by 56.4% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 9,453 shares of the medical instruments supplier’s stock valued at $1,908,000 after buying an additional 3,408 shares during the last quarter. Private Advisor Group LLC grew its position in Insulet by 92.6% in the 2nd quarter. Private Advisor Group LLC now owns 3,187 shares of the medical instruments supplier’s stock valued at $643,000 after buying an additional 1,532 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in Insulet in the 2nd quarter valued at $9,207,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research lowered their price objective on shares of Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Redburn Atlantic assumed coverage on shares of Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and set a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. UBS Group boosted their target price on shares of Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Barclays boosted their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $225.29.

Insulet Price Performance

Insulet stock opened at $233.87 on Friday. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $234.71. 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 firm’s 50-day simple moving average is $199.23 and its 200 day simple moving average is $185.73. The firm has a market capitalization of $16.40 billion, a PE ratio of 70.87, a P/E/G ratio of 4.26 and a beta of 1.21.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $488.00 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Insulet’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Insulet Co. will post 3.04 EPS for the current fiscal year.

Insulet 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.