Ithaka Group LLC Raises Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• Ithaka Group LLC increased its stake in Insulet Corporation by 4.8% during Q1, now owning 30,424 shares valued at approximately $7.99 million, making it the fund's 23rd largest holding.
• Several large investors, including Northern Trust Corp and GAMMA Investing LLC, significantly boosted their stakes in Insulet, with GAMMA's investment increasing by over 27,000% to a value of $1.74 billion.
• Insulet reported strong earnings with $1.02 earnings per share for Q1, surpassing analyst expectations, alongside a revenue increase of 28.8% compared to the previous year.

Ithaka Group LLC increased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,424 shares of the medical instruments supplier's stock after buying an additional 1,389 shares during the period. Insulet comprises approximately 1.6% of Ithaka Group LLC's investment portfolio, making the stock its 23rd largest holding. Ithaka Group LLC's holdings in Insulet were worth $7,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its holdings in Insulet by 426.3% in the 1st quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Insulet in the fourth quarter valued at about $42,000. Ramirez Asset Management Inc. acquired a new stake in shares of Insulet in the first quarter valued at about $53,000. Golden State Wealth Management LLC lifted its stake in shares of Insulet by 553.1% in the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after buying an additional 177 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in Insulet by 114.7% during the first 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 last quarter.

Insulet Stock Up 9.5%

Shares of NASDAQ:PODD traded up $26.25 during trading hours on Thursday, reaching $303.55. The stock had a trading volume of 1,787,811 shares, compared to its average volume of 553,722. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The firm's 50 day moving average is $299.47 and its 200-day moving average is $282.79. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of 54.60, a P/E/G ratio of 2.48 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, beating the consensus estimate of $0.93 by $0.24. The firm had revenue of $649.10 million for the quarter, compared to analyst estimates of $612.31 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. Research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PODD has been the subject of a number of recent research reports. Oppenheimer increased their price objective on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $360.00 price target (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Barclays boosted their price objective on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 target price for the company. Finally, Morgan Stanley reissued an "overweight" rating on shares of Insulet in a research report on Thursday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $321.00.

Insider Buying and Selling at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president directly owned 23,180 shares of the company's stock, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company's stock.

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.