Cumberland Partners Ltd Makes New Investment in Insulet Corporation (NASDAQ:PODD)

Key Points

• Cumberland Partners Ltd made a significant investment of approximately $1.71 million in Insulet Corporation, acquiring 6,500 shares during the first quarter.
• Several institutional investors increased their positions in Insulet, with Allspring Global Investments raising its holdings by 55.5% and Farther Finance Advisors by 85.1% in the same period.
• Insulet recently reported strong quarterly earnings, exceeding expectations with $1.02 earnings per share, and a 28.8% year-over-year revenue increase.

Cumberland Partners Ltd acquired a new position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,500 shares of the medical instruments supplier's stock, valued at approximately $1,707,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Insulet by 55.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock worth $1,376,000 after buying an additional 1,867 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Insulet by 85.1% during the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock worth $236,000 after purchasing an additional 412 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Insulet by 75.6% during the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock worth $533,000 after purchasing an additional 874 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Insulet during the 4th quarter worth approximately $9,822,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Insulet by 225.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after purchasing an additional 1,075 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. The Goldman Sachs Group started coverage on shares of Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective for the company. Truist Financial started coverage on shares of Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective for the company. Finally, Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective for the company in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Trading Down 1.2%

Insulet stock traded down $3.49 during mid-day trading on Friday, hitting $284.91. The company's stock had a trading volume of 567,392 shares, compared to its average volume of 518,343. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 51.24, a price-to-earnings-growth ratio of 2.54 and a beta of 1.35. The business has a 50 day moving average price of $302.39 and a 200-day moving average price of $282.56. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm's revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. As a group, analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction on 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 completion of the sale, the senior vice president directly owned 23,180 shares of the company's stock, valued at $7,382,134.60. The trade was 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 the SEC website. 0.39% of the stock is owned by corporate insiders.

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.