Citigroup Inc. Raises Position in Insulet Corporation (NASDAQ:PODD)

Citigroup Inc. increased its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,012 shares of the medical instruments supplier's stock after acquiring an additional 16,931 shares during the period. Citigroup Inc. owned approximately 0.12% of Insulet worth $21,275,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Insulet by 12.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 124,779 shares of the medical instruments supplier's stock valued at $32,768,000 after buying an additional 13,335 shares during the last quarter. CenterBook Partners LP bought a new position in shares of Insulet during the first quarter valued at approximately $839,000. Charles Schwab Investment Management Inc. grew its stake in shares of Insulet by 4.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 674,367 shares of the medical instruments supplier's stock valued at $177,096,000 after buying an additional 27,408 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Insulet during the first quarter valued at approximately $860,000. Finally, Vanguard Group Inc. grew its stake in shares of Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier's stock valued at $2,276,553,000 after buying an additional 178,976 shares during the last quarter.

Insulet Stock Up 1.7%

Insulet stock traded up $5.49 during mid-day trading on Friday, reaching $321.27. 617,194 shares of the company were exchanged, compared to its average volume of 695,485. The business has a fifty day moving average of $298.40 and a 200 day moving average of $284.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The firm has a market cap of $22.61 billion, a P/E ratio of 97.65, a PEG ratio of 2.65 and a beta of 1.35. Insulet Corporation has a 12-month low of $180.31 and a 12-month high of $329.33.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PODD shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Insulet in a research note on Thursday, August 7th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Barclays upped their target price on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group increased their price objective on Insulet from $331.00 to $353.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Oppenheimer increased their price objective on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.