Rhenman & Partners Asset Management AB Increases Position in Insulet Corporation $PODD

Rhenman & Partners Asset Management AB increased its position in shares of Insulet Corporation (NASDAQ:PODD) by 26.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,000 shares of the medical instruments supplier’s stock after acquiring an additional 12,000 shares during the quarter. Insulet makes up approximately 2.0% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 19th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Insulet were worth $17,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sage Mountain Advisors LLC lifted its position in Insulet by 4.6% during the third quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $229,000 after buying an additional 33 shares in the last quarter. Curi Capital LLC increased its position in shares of Insulet by 0.8% in the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock worth $1,365,000 after acquiring an additional 36 shares in the last quarter. Evelyn Partners Investment Management Services Ltd increased its position in shares of Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock worth $55,000 after acquiring an additional 39 shares in the last quarter. Camarda Financial Advisors LLC raised its stake in shares of Insulet by 0.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier’s stock valued at $2,304,000 after acquiring an additional 40 shares during the period. Finally, PDS Planning Inc raised its stake in shares of Insulet by 5.1% in the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock valued at $253,000 after acquiring an additional 40 shares during the period.

Insiders Place Their Bets

In other news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Insulet Trading Down 1.6%

PODD opened at $237.01 on Friday. Insulet Corporation has a 12-month low of $230.05 and a 12-month high of $354.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock has a market capitalization of $16.69 billion, a PE ratio of 67.72, a P/E/G ratio of 1.41 and a beta of 1.42. The firm’s fifty day moving average price is $263.52 and its 200 day moving average price is $300.42.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to analyst estimates of $768.31 million. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. As a group, research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PODD shares. UBS Group reaffirmed a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Royal Bank Of Canada boosted their price objective on Insulet from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Citigroup lowered their target price on Insulet from $380.00 to $345.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Sanford C. Bernstein dropped their target price on Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $354.57.

Insulet Profile

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.