Driehaus Capital Management LLC Purchases 45,916 Shares of Insulet Corporation $PODD

Key Points

• Driehaus Capital Management LLC increased its stake in Insulet Corporation by 46.0% in Q1, now owning over $38 million worth of shares.
• Multiple hedge funds, including GAMMA Investing LLC and American Century Companies Inc., significantly boosted their holdings in Insulet, with GAMMA's position growing by a staggering 27,298.6%.
• Insulet reported better-than-expected earnings in Q1 with an EPS of $1.17, exceeding estimates, and a revenue increase of 32.9% year-over-year.

Driehaus Capital Management LLC increased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,802 shares of the medical instruments supplier's stock after acquiring an additional 45,916 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.21% of Insulet worth $38,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new stake in shares of Insulet in the 1st quarter worth approximately $26,000. Larson Financial Group LLC lifted its stake in Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock valued at $26,000 after buying an additional 81 shares during the last quarter. SouthState Corp boosted its holdings in shares of Insulet by 253.3% during the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 76 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Insulet in the 4th quarter worth about $42,000. Finally, Ramirez Asset Management Inc. bought a new stake in Insulet in the 1st quarter valued at about $53,000.

Analyst Ratings Changes

PODD has been the subject of a number of analyst reports. Oppenheimer boosted their price target on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Truist Financial initiated 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. Citigroup reaffirmed a "buy" rating on shares of Insulet in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Insulet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada increased their price target on Insulet from $330.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $332.71.

Insulet Stock Up 1.5%

Shares of NASDAQ:PODD traded up $5.04 during midday trading on Tuesday, hitting $344.92. 784,021 shares of the stock were exchanged, compared to its average volume of 757,600. The business's fifty day simple moving average is $304.69 and its two-hundred day simple moving average is $288.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. Insulet Corporation has a 52-week low of $199.68 and a 52-week high of $350.00. The company has a market capitalization of $24.28 billion, a PE ratio of 104.84, a P/E/G ratio of 2.85 and a beta of 1.36.

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 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 analysts' expectations of $612.31 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business's quarterly revenue was up 32.9% compared to the same quarter last year. Insulet has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal 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.