426,409 Shares in Insulet Corporation $PODD Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 426,409 Insulet shares in the second quarter, worth approximately $64.9 million and representing 0.61% of the company. BlackRock, Norges Bank and Arrowstreet Capital also increased or initiated sizable positions.
• Insulet reported a strong quarter, with earnings of $1.66 per share versus the $1.47 consensus estimate and revenue of $801.7 million, up 23.5% year over year.
• Shares opened at $140.60, well below their 52-week high of $354.88. Analysts maintain a consensus “Hold” rating, with an average price target of $195.40, despite several firms recently lowering their targets.

Bank of America Corp DE bought a new position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 426,409 shares of the medical instruments supplier's stock, valued at approximately $64,921,000. Bank of America Corp DE owned 0.61% of Insulet at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Insulet during the second quarter valued at about $1,018,582,000. Geode Capital Management LLC grew its stake in shares of Insulet by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 2,006,413 shares of the medical instruments supplier's stock valued at $568,274,000 after buying an additional 41,019 shares during the last quarter. Norges Bank bought a new stake in Insulet during the 4th quarter valued at about $300,794,000. Arrowstreet Capital Limited Partnership grew its stake in Insulet by 462.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,229,928 shares of the medical instruments supplier's stock worth $258,088,000 after purchasing an additional 1,011,369 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Insulet by 1.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 768,066 shares of the medical instruments supplier's stock valued at $218,315,000 after buying an additional 10,254 shares during the period.

Insulet Stock Down 0.7%

Shares of NASDAQ:PODD opened at $140.60 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.48 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $150.39 and a two-hundred day moving average of $170.14. Insulet Corporation has a 52-week low of $126.40 and a 52-week high of $354.88. The stock has a market cap of $9.75 billion, a P/E ratio of 26.28, a PEG ratio of 1.11 and a beta of 1.08.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical instruments supplier reported $1.66 EPS for the quarter, beating the consensus estimate of $1.47 by $0.19. The firm had revenue of $801.70 million for the quarter, compared to analyst estimates of $787.39 million. Insulet had a net margin of 12.29% and a return on equity of 29.29%. The business's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. Insulet has set its FY 2026 guidance at 6.460- EPS. On average, research analysts expect that Insulet Corporation will post 6.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PODD. Robert W. Baird set a $175.00 price objective on shares of Insulet in a research note on Thursday, August 6th. Stifel Nicolaus dropped their price objective on shares of Insulet from $225.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Wall Street Zen lowered shares of Insulet from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 9th. Raymond James Financial reissued an "outperform" rating and set a $180.00 price target on shares of Insulet in a report on Thursday, August 6th. Finally, Truist Financial restated a "hold" rating and issued a $153.00 price objective (down from $210.00) on shares of Insulet in a research report on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Insulet presently has a consensus rating of "Hold" and an average price target of $195.40.

About Insulet

Insulet Corporation is a medical device company that develops, manufactures and sells wearable insulin delivery systems for people with insulin-dependent diabetes. Its products are designed to provide an alternative to traditional insulin injections and conventional tubed insulin pumps.

The company's principal product platform is Omnipod, a tubeless, wearable insulin pump system. Omnipod products include the disposable, wearable Pod and related management and smartphone-based technologies.

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