Commerce Bank Grows Position in Insulet Corporation (NASDAQ:PODD)

Key Points

• Commerce Bank increased its holdings in Insulet Corporation by 239.4%, acquiring an additional 9,305 shares, bringing its total to 13,192 shares valued at approximately $3.46 million.
• Insulet's stock has experienced a decline of 1.2%, with a 52-week range between $173.00 and $329.33, and its current market cap stands at $20.05 billion.
• Recent earnings results showed Insulet reported earnings per share of $1.02, exceeding expectations, with revenue up 28.8% year-over-year, indicating strong growth performance.

Commerce Bank lifted its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 239.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,192 shares of the medical instruments supplier's stock after purchasing an additional 9,305 shares during the period. Commerce Bank's holdings in Insulet were worth $3,464,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PODD. Arrowstreet Capital Limited Partnership bought a new stake in Insulet during the 4th quarter worth approximately $9,822,000. O Shaughnessy Asset Management LLC raised its stake in Insulet by 43.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,291 shares of the medical instruments supplier's stock worth $1,381,000 after acquiring an additional 1,610 shares during the period. Huntington National Bank raised its stake in Insulet by 27.6% during the 4th quarter. Huntington National Bank now owns 907 shares of the medical instruments supplier's stock worth $237,000 after acquiring an additional 196 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Insulet during the 4th quarter worth approximately $6,469,000. Finally, Aviva PLC raised its stake in Insulet by 164.5% during the 4th quarter. Aviva PLC now owns 42,276 shares of the medical instruments supplier's stock worth $11,037,000 after acquiring an additional 26,294 shares during the period.

Insulet Trading Up 1.4%

PODD stock traded up $4.28 during mid-day trading on Friday, reaching $307.83. 635,311 shares of the stock traded hands, compared to its average volume of 771,714. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33. The stock has a market capitalization of $21.67 billion, a PE ratio of 55.37, a PEG ratio of 2.48 and a beta of 1.35. The business has a 50-day moving average price of $299.47 and a two-hundred day moving average price of $282.79.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.25. The firm had revenue of $649.10 million for the quarter, compared to analysts' expectations of $612.31 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The business's revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Equities research analysts expect that Insulet Corporation will post 3.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They set a "buy" rating and a $365.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Insulet from $330.00 to $350.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen downgraded shares of Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Barclays boosted their target price on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $323.11.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the transaction, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.