1832 Asset Management L.P. Buys New Position in Insulet Corporation $PODD

Key Points

• 1832 Asset Management L.P. purchased a new stake in Insulet Corporation, acquiring 13,054 shares valued at approximately $3.43 million during the 1st quarter.
• Several institutional investors, including Allspring Global Investments and QRG Capital Management, have significantly boosted their stakes in Insulet during the same period.
• Insulet's latest quarterly earnings surpassed analysts' expectations, reporting $1.17 earnings per share and revenue of $649.1 million, up 32.9% from the previous year.

1832 Asset Management L.P. purchased a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,054 shares of the medical instruments supplier's stock, valued at approximately $3,428,000.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Insulet by 55.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after purchasing an additional 1,867 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Insulet by 85.1% during the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock valued at $236,000 after acquiring an additional 412 shares in the last quarter. QRG Capital Management Inc. boosted its position in Insulet by 75.6% during the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock valued at $533,000 after acquiring an additional 874 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Insulet by 225.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after acquiring an additional 1,075 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Insulet by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 8,212 shares of the medical instruments supplier's stock worth $2,156,000 after acquiring an additional 210 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PODD. Royal Bank Of Canada lifted their price target on Insulet from $330.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating and set a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Barclays increased their price target on shares of Insulet from $266.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They set a "buy" rating and a $365.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.71.

Insulet Price Performance

PODD opened at $330.77 on Monday. The firm has a market cap of $23.28 billion, a PE ratio of 100.54, a P/E/G ratio of 2.77 and a beta of 1.35. The stock has a 50-day moving average price of $300.94 and a 200-day moving average price of $285.90. Insulet Corporation has a 1 year low of $180.31 and a 1 year high of $334.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.26 and a quick ratio of 1.81.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.25. The business had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. Insulet had a net margin of 10.01% and a return on equity of 23.78%. Insulet's revenue was up 32.9% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Insulet has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.

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