Swedbank AB Buys 5,000 Shares of Insulet Corporation $PODD

Swedbank AB increased its stake in shares of Insulet Corporation (NASDAQ:PODD) by 6.9% in the third quarter, Holdings Channel reports. The firm owned 77,488 shares of the medical instruments supplier’s stock after buying an additional 5,000 shares during the quarter. Swedbank AB’s holdings in Insulet were worth $23,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Net Worth Advisory Group bought a new position in Insulet during the third quarter worth about $269,000. IFM Investors Pty Ltd raised its position in shares of Insulet by 4.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,720 shares of the medical instruments supplier’s stock valued at $4,681,000 after acquiring an additional 635 shares during the period. Munro Partners boosted its stake in Insulet by 1,483.0% during the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock worth $70,156,000 after acquiring an additional 212,885 shares during the last quarter. Patton Fund Management Inc. boosted its stake in Insulet by 1,655.5% during the 3rd quarter. Patton Fund Management Inc. now owns 14,816 shares of the medical instruments supplier’s stock worth $4,574,000 after acquiring an additional 13,972 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its holdings in Insulet by 15.1% during the third quarter. Juncture Wealth Strategies LLC now owns 1,205 shares of the medical instruments supplier’s stock valued at $372,000 after purchasing an additional 158 shares during the period.

Insulet Price Performance

PODD stock opened at $288.63 on Friday. The stock has a 50-day moving average price of $313.67 and a two-hundred day moving average price of $312.84. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88. The stock has a market cap of $20.31 billion, a PE ratio of 83.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.37. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PODD shares. Zacks Research upgraded shares of Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Canaccord Genuity Group raised their price objective on Insulet from $432.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Leerink Partners boosted their target price on Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Jefferies Financial Group increased their price target on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Raymond James Financial lifted their price objective on Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.00.

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.