Steinberganna Wealth Management Buys New Stake in Insulet Corporation $PODD

Steinberganna Wealth Management purchased a new stake in Insulet Corporation (NASDAQ:PODD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,391 shares of the medical instruments supplier’s stock, valued at approximately $3,517,000. Insulet makes up about 1.7% of Steinberganna Wealth Management’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in PODD. Vident Advisory LLC acquired a new stake in shares of Insulet during the 1st quarter worth about $216,000. Integrated Wealth Concepts LLC increased its stake in Insulet by 2.0% in the first quarter. Integrated Wealth Concepts LLC now owns 3,635 shares of the medical instruments supplier’s stock valued at $955,000 after purchasing an additional 73 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Insulet by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,909 shares of the medical instruments supplier’s stock worth $5,228,000 after purchasing an additional 440 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 64 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Insulet by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 579,302 shares of the medical instruments supplier’s stock valued at $152,130,000 after buying an additional 10,628 shares in the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $292.89 on Friday. The stock has a fifty day moving average price of $307.43 and a 200 day moving average price of $311.92. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The company has a market cap of $20.60 billion, a PE ratio of 84.90, a P/E/G ratio of 1.67 and a beta of 1.40.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter last year, the business earned $1.08 EPS. The business’s revenue was up 29.9% on a year-over-year basis. Sell-side analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rothschild & Co Redburn lifted their price target on shares of Insulet from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Insulet in a research report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Insulet in a research report on Wednesday, October 8th. Piper Sandler lifted their price target on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Leerink Partners increased their price objective on Insulet from $385.00 to $386.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $380.60.

Insulet Company 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.