SpiderRock Advisors LLC Reduces Stock Position in Insulet Co. (NASDAQ:PODD)

SpiderRock Advisors LLC lessened its holdings in shares of Insulet Co. (NASDAQ:PODD) by 25.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,195 shares of the medical instruments supplier’s stock after selling 1,103 shares during the period. SpiderRock Advisors LLC’s holdings in Insulet were worth $744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position 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 buying an additional 58 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Insulet during the 2nd quarter valued at $32,000. UMB Bank n.a. raised its holdings in Insulet by 81.0% in the 2nd quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 81 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Insulet by 138.1% in the 2nd quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 145 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Insulet by 159.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 156 shares in the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $268.00 on Monday. The firm has a market cap of $18.79 billion, a P/E ratio of 45.89, a PEG ratio of 5.00 and a beta of 1.22. Insulet Co. has a twelve month low of $151.56 and a twelve month high of $275.52. 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 of $232.01 and a 200 day moving average of $204.48.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results 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 net margin of 21.22% and a return on equity of 30.29%. The business had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Insulet Co. will post 3.1 EPS for the current fiscal year.

Analyst Ratings Changes

PODD has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group raised their target price on Insulet from $236.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein initiated coverage on Insulet in a research report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. UBS Group increased their price objective on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Raymond James boosted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.80.

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.