Jain Global LLC Has $32.95 Million Stake in Insulet Corporation $PODD

Jain Global LLC lifted its stake in Insulet Corporation (NASDAQ:PODD) by 148.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 106,710 shares of the medical instruments supplier’s stock after purchasing an additional 63,719 shares during the quarter. Jain Global LLC’s holdings in Insulet were worth $32,945,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. True Wealth Design LLC increased its stake in 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 during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 43 shares during the period. Quent Capital LLC acquired a new stake in shares of Insulet during the 3rd quarter worth $49,000. Osterweis Capital Management Inc. acquired a new stake in shares of Insulet during the 2nd quarter worth $51,000. Finally, Zions Bancorporation National Association UT increased its position in shares of Insulet by 57.3% in the third quarter. Zions Bancorporation National Association UT now owns 173 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 63 shares during the period.

Insider Activity

In related news, Director Michael R. Minogue acquired 2,030 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

Insulet Price Performance

Shares of PODD stock opened at $219.84 on Monday. The business has a fifty day simple moving average of $258.47 and a 200 day simple moving average of $296.80. The company has a market cap of $15.48 billion, a P/E ratio of 62.81, a P/E/G ratio of 1.31 and a beta of 1.42. 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 Corporation has a twelve month low of $216.49 and a twelve month high of $354.88.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The firm had revenue of $783.80 million for 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%.The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. On average, sell-side analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on PODD. Sanford C. Bernstein dropped their price target on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. UBS Group reissued a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Zacks Research cut shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Truist Financial cut their price target on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, The Goldman Sachs Group reduced their price target on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus target price of $354.24.

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.