Insulet Corporation (NASDAQ:PODD) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Insulet Corporation (NASDAQ:PODD) by 15.7%, owning approximately $13.63 million worth of shares after purchasing an additional 7,054 shares in Q1.
• Major analysts have upgraded their ratings for Insulet, with Raymond James projecting a price target of $360 and Wolfe Research moving their rating from "peer perform" to "outperform."
• Insulet reported a 28.8% year-over-year revenue increase in their latest earnings, achieving $569 million during the quarter and surpassing analysts' expectations.

Skandinaviska Enskilda Banken AB publ increased its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 51,929 shares of the medical instruments supplier's stock after purchasing an additional 7,054 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.07% of Insulet worth $13,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in 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 period. Itau Unibanco Holding S.A. acquired a new stake in Insulet during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC lifted its position in Insulet by 553.1% during the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after acquiring an additional 177 shares during the period. GW&K Investment Management LLC lifted its position in Insulet by 114.7% during the 1st quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock worth $65,000 after acquiring an additional 133 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in Insulet by 135.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 162 shares during the period.

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was 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 of the company's stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company's stock.

Insulet Price Performance

NASDAQ PODD traded up $7.04 during mid-day trading on Wednesday, hitting $298.53. The stock had a trading volume of 116,862 shares, compared to its average volume of 764,239. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 53.71, a P/E/G ratio of 2.61 and a beta of 1.35. The company has a 50 day simple moving average of $304.29 and a 200 day simple moving average of $281.99. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21.

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

Analyst Ratings Changes

A number of analysts have weighed in on PODD shares. Wolfe Research raised Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective for the company in a research report on Tuesday, May 13th. Citigroup reaffirmed a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 price target for the company. Truist Financial initiated coverage on Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 price target on the stock. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $321.00.

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.