AustralianSuper Pty Ltd Purchases Shares of 34,921 Insulet Corporation (NASDAQ:PODD)

AustralianSuper Pty Ltd acquired a new position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 34,921 shares of the medical instruments supplier's stock, valued at approximately $9,171,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Insulet by 426.3% during the 1st quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after purchasing an additional 81 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Insulet in the fourth quarter valued at $42,000. Golden State Wealth Management LLC raised its holdings in shares of Insulet by 553.1% in the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock valued at $55,000 after buying an additional 177 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of Insulet by 135.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock valued at $74,000 after buying an additional 162 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Insulet by 23.1% during the first 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.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PODD has been the topic of several recent research reports. Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $360.00 price objective (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Wall Street Zen downgraded Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Finally, Barclays upped their price objective on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Stock Performance

NASDAQ PODD opened at $284.23 on Friday. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $20.00 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 2.54 and a beta of 1.35. The business's 50-day moving average price is $309.07 and its 200 day moving average price is $280.99. Insulet Corporation has a twelve month low of $173.00 and a twelve month high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter last year, the business earned $0.73 EPS. Insulet's revenue for the quarter was up 28.8% on a year-over-year basis. On average, research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current 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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