Thrivent Financial for Lutherans Sells 9,253,606 Shares of Insulet Corporation $PODD

Thrivent Financial for Lutherans trimmed its position in Insulet Corporation (NASDAQ:PODD) by 99.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,717 shares of the medical instruments supplier’s stock after selling 9,253,606 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Insulet were worth $8,865,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 72 shares in the last quarter. Golden State Wealth Management LLC increased its position in Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in Insulet in the second quarter worth $35,000. Whittier Trust Co. of Nevada Inc. raised its stake in Insulet by 48.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 43 shares in the last quarter. Finally, Quent Capital LLC bought a new position in Insulet during the third quarter valued at $49,000.

Insulet Stock Performance

PODD stock opened at $243.15 on Friday. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 70.48, a PEG ratio of 1.42 and a beta of 1.41. The business’s fifty day simple moving average is $285.20 and its two-hundred day simple moving average is $307.99. The company has a quick ratio of 2.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.68.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. Analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PODD shares. Weiss Ratings restated a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Raymond James Financial upped their price objective on Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Jefferies Financial Group lifted their target price on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Evercore ISI started coverage on Insulet in a report on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price target on the stock. Finally, Truist Financial dropped their price objective on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $374.10.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.