Charles Schwab Investment Management Inc. Boosts Stake in Insulet Corporation (NASDAQ:PODD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Insulet Corporation by 4.2%, owning 674,367 shares valued at approximately $177.1 million as of its latest filing.
• Several hedge funds, including GAMMA Investing LLC and Vanguard Group Inc., significantly boosted their holdings in Insulet, with GAMMA increasing its position by a staggering 27,298.6%.
• Analysts have upgraded Insulet's stock rating, with Wall Street Zen moving it from "hold" to "buy" and various firms increasing their price targets up to $360.00.

Charles Schwab Investment Management Inc. boosted its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 674,367 shares of the medical instruments supplier's stock after buying an additional 27,408 shares during the period. Charles Schwab Investment Management Inc. owned 0.96% of Insulet worth $177,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PODD. GAMMA Investing LLC lifted its holdings in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after buying an additional 661,717 shares during the period. Vanguard Group Inc. lifted its holdings in Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier's stock worth $2,276,553,000 after buying an additional 178,976 shares during the period. Northern Trust Corp lifted its holdings in Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after buying an additional 125,710 shares during the period. Federated Hermes Inc. lifted its holdings in Insulet by 23.4% during the first quarter. Federated Hermes Inc. now owns 632,869 shares of the medical instruments supplier's stock worth $166,198,000 after buying an additional 120,197 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Insulet during the fourth quarter worth $29,993,000.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded Insulet from a "hold" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company increased their price objective on Insulet from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Friday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Wolfe Research upgraded Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective for the company in a report on Tuesday, May 13th. Finally, Raymond James Financial reiterated 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 research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Insulet currently has an average rating of "Moderate Buy" and an average price target of $330.71.

Insulet Stock Performance

Shares of PODD stock opened at $307.10 on Friday. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 93.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.26 and a quick ratio of 3.63. The business has a fifty day moving average of $299.12 and a 200 day moving average of $283.03. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33.

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

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president directly owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

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.

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