American Century Companies Inc. Purchases 297,734 Shares of Insulet Corporation $PODD

Key Points

• American Century Companies Inc. increased its stake in Insulet Corporation by 34.8% in Q1, owning approximately 1.64% of the company, valued at $302.69 million.
• Insulet reported earnings of $1.17 EPS for the quarter, exceeding the consensus estimate of $0.92, with revenues up 32.9% year-over-year, totaling $649.1 million.
• Several brokerages have raised their target prices for Insulet, with Raymond James setting a target of $360 and Canaccord Genuity boosting it to $353, reflecting strong analyst confidence in the company.

American Century Companies Inc. boosted its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 34.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,152,606 shares of the medical instruments supplier's stock after purchasing an additional 297,734 shares during the period. American Century Companies Inc. owned about 1.64% of Insulet worth $302,686,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its position in shares of Insulet by 6.7% during the 1st quarter. OLD National Bancorp IN now owns 880 shares of the medical instruments supplier's stock worth $231,000 after buying an additional 55 shares during the period. Cooper Financial Group grew its position in shares of Insulet by 5.7% during the 1st quarter. Cooper Financial Group now owns 1,079 shares of the medical instruments supplier's stock worth $283,000 after buying an additional 58 shares during the period. Syon Capital LLC grew its position in shares of Insulet by 5.6% during the 4th quarter. Syon Capital LLC now owns 1,114 shares of the medical instruments supplier's stock worth $291,000 after buying an additional 59 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Insulet by 23.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 314 shares of the medical instruments supplier's stock worth $82,000 after buying an additional 59 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Insulet by 2.1% during the 1st quarter. HighTower Advisors LLC now owns 2,882 shares of the medical instruments supplier's stock worth $757,000 after buying an additional 60 shares during the period.

Insulet Stock Up 1.7%

PODD traded up $5.49 during trading hours on Friday, hitting $321.27. 617,194 shares of the company's stock were exchanged, compared to its average volume of 708,888. Insulet Corporation has a 1-year low of $180.31 and a 1-year high of $329.33. The stock's 50-day moving average is $298.40 and its two-hundred day moving average is $284.26. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 97.65, a PEG ratio of 2.69 and a beta of 1.35. The company has a quick ratio of 1.81, a current ratio of 2.26 and a debt-to-equity ratio of 0.64.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, topping the consensus estimate of $0.92 by $0.25. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The business had revenue of $649.10 million during the quarter, compared to analysts' expectations of $612.31 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm's revenue was up 32.9% on a year-over-year basis. Sell-side analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Insulet in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Insulet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Wells Fargo & Company boosted their price objective on shares of Insulet from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Finally, Raymond James Financial restated an "outperform" rating and set a $360.00 price objective (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.71.

About Insulet

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.