Insulet Co. (NASDAQ:PODD) Holdings Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Insulet Co. (NASDAQ:PODD) by 61.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,417 shares of the medical instruments supplier’s stock after purchasing an additional 5,086 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Insulet were worth $2,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in shares of Insulet during the first quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Insulet during the 2nd quarter valued at $32,000. UMB Bank n.a. grew its holdings in shares of Insulet by 81.0% during the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 81 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Insulet in the fourth quarter worth $40,000. Finally, CVA Family Office LLC raised its holdings in shares of Insulet by 138.1% during the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 145 shares in the last quarter.

Insulet Price Performance

NASDAQ:PODD opened at $232.03 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The stock has a market cap of $16.27 billion, a P/E ratio of 70.31, a PEG ratio of 4.47 and a beta of 1.21. The company has a fifty day moving average price of $206.81 and a 200 day moving average price of $190.42. Insulet Co. has a one year low of $125.82 and a one year high of $243.98.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PODD shares. BTIG Research lowered their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler increased their price objective on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Barclays raised their price target on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Canaccord Genuity Group increased their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group boosted their price target on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.71.

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.