Federated Hermes Inc. Grows Stock Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• Federated Hermes Inc. increased its stake in Insulet Corporation by 23.4%, owning approximately 632,869 shares valued at $166.2 million as of the latest SEC filing.
• Insulet's stock has risen 0.7%, with a current trading price of $292.27, while reporting a significant 28.8% increase in year-over-year revenue for the latest quarter.
• Several analysts have given Insulet a "buy" rating, with price targets ranging from $266.00 to $380.00, reflecting a positive outlook from the market.

Federated Hermes Inc. boosted its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 23.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632,869 shares of the medical instruments supplier's stock after purchasing an additional 120,197 shares during the quarter. Federated Hermes Inc. owned about 0.90% of Insulet worth $166,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after acquiring an additional 661,717 shares in the last quarter. Northern Trust Corp raised its holdings in Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after buying an additional 125,710 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Insulet in the 4th quarter worth about $29,993,000. Marshall Wace LLP lifted its position in shares of Insulet by 29.6% in the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock worth $127,015,000 after purchasing an additional 111,119 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Insulet by 42.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 289,507 shares of the medical instruments supplier's stock worth $75,588,000 after purchasing an additional 86,505 shares during the period.

Insulet Trading Down 1.3%

Shares of Insulet stock traded down $3.77 during trading on Friday, hitting $284.64. The stock had a trading volume of 376,839 shares, compared to its average volume of 763,454. The firm's fifty day simple moving average is $303.12 and its 200-day simple moving average is $282.24. 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 $20.03 billion, a PE ratio of 51.34, a PEG ratio of 2.66 and a beta of 1.35. 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 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm had revenue of $569.00 million for the quarter, compared to analysts' expectations of $543.20 million. During the same period in the prior year, the business posted $0.73 earnings per share. The business's revenue for the quarter was up 28.8% on a year-over-year basis. As a group, sell-side analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on PODD shares. Citigroup reiterated a "buy" rating on shares of Insulet in a research note on Tuesday, July 8th. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a report on Monday, April 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a report on Friday, May 16th. The Goldman Sachs Group started coverage on shares of Insulet in a research note on Friday, May 30th. They set a "buy" rating and a $380.00 target price on the stock. Finally, Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.00.

Insiders Place Their Bets

In related news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. The trade was a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

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.