UBS Group AG Boosts Stock Position in Insulet Corporation $PODD

UBS Group AG raised its stake in shares of Insulet Corporation (NASDAQ:PODD) by 13.1% in the 4th quarter, Holdings Channel reports. The fund owned 234,022 shares of the medical instruments supplier’s stock after acquiring an additional 27,079 shares during the quarter. UBS Group AG’s holdings in Insulet were worth $66,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Insulet during the 4th quarter valued at approximately $5,803,000. Generali Investments Management Co LLC raised its stake in Insulet by 63.1% during the 4th quarter. Generali Investments Management Co LLC now owns 1,143 shares of the medical instruments supplier’s stock valued at $325,000 after acquiring an additional 442 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Insulet during the 4th quarter valued at approximately $171,000. Geneos Wealth Management Inc. raised its stake in Insulet by 4.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 35,924 shares of the medical instruments supplier’s stock valued at $10,211,000 after acquiring an additional 1,664 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its position in Insulet by 40.3% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 5,210 shares of the medical instruments supplier’s stock worth $1,481,000 after buying an additional 1,497 shares during the last quarter.

Insulet Stock Performance

Shares of PODD opened at $171.39 on Tuesday. Insulet Corporation has a 52-week low of $158.35 and a 52-week high of $354.88. The company has a market capitalization of $11.87 billion, a PE ratio of 48.97, a P/E/G ratio of 1.03 and a beta of 1.20. The company has a 50-day simple moving average of $216.37 and a 200-day simple moving average of $267.14. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. Equities research analysts predict that Insulet Corporation will post 6.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael R. Minogue bought 2,030 shares of the stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PODD. Stifel Nicolaus cut their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Sanford C. Bernstein cut their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Oppenheimer cut their target price on Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Citigroup downgraded Insulet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $338.00 to $230.00 in a research note on Tuesday, April 7th. Finally, Truist Financial cut their target price on Insulet from $360.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $327.24.

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.