Gulf International Bank UK Ltd Sells 1,509 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Insulet Corporation by 27.7%, selling 1,509 shares and ending the period with holdings valued at $1,035,000.
• Analysts are optimistic about Insulet's stock performance, with 17 out of 19 giving it a buy rating and an average price target of $330.71, following some raised estimates from firms like Raymond James and Wells Fargo.
• Insulet reported earnings of $1.17 per share, exceeding estimates by $0.25, and its revenue for the quarter rose by 32.9% year-over-year, totaling $649.10 million.

Gulf International Bank UK Ltd trimmed its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,943 shares of the medical instruments supplier's stock after selling 1,509 shares during the period. Gulf International Bank UK Ltd's holdings in Insulet were worth $1,035,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $360.00 price objective (up from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Wells Fargo & Company lifted their price objective on shares of Insulet from $330.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating on shares of Insulet in a research report on Thursday, August 7th. Jefferies Financial Group reiterated a "buy" rating on shares of Insulet in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Insulet from $331.00 to $353.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $330.71.

Insulet Price Performance

PODD stock opened at $321.27 on Friday. The firm's 50-day moving average price is $298.40 and its two-hundred day moving average price is $284.19. Insulet Corporation has a 12-month low of $180.31 and a 12-month high of $329.33. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 97.65, a PEG ratio of 2.65 and a beta of 1.35. The company has a current ratio of 2.26, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64.

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

Insulet 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.

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