Lecap Asset Management Ltd. Boosts Stock Position in Insulet Co. (NASDAQ:PODD)

Lecap Asset Management Ltd. raised its stake in Insulet Co. (NASDAQ:PODD) by 25.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,560 shares of the medical instruments supplier’s stock after purchasing an additional 918 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Insulet were worth $1,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PODD. Sunbelt Securities Inc. purchased a new stake in Insulet in the 1st quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Insulet in the 2nd quarter valued at $32,000. UMB Bank n.a. raised its position in Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 81 shares during the period. Finally, CVA Family Office LLC lifted its position in Insulet by 138.1% during the 2nd 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

Insulet stock opened at $234.84 on Thursday. The stock’s 50 day moving average is $220.00 and its 200 day moving average is $198.30. Insulet Co. has a one year low of $128.68 and a one year high of $243.98. The firm has a market cap of $16.46 billion, a P/E ratio of 42.70, a P/E/G ratio of 4.42 and a beta of 1.21. 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 announced 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 company had revenue of $488.50 million for the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the business earned $0.38 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Insulet Co. will post 3.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler raised their price target on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Raymond James boosted their price objective on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. BTIG Research increased their target price on shares of Insulet from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup boosted their target price on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $242.29.

About Insulet

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.