Longbow Finance SA Takes Position in Insulet Corporation (NASDAQ:PODD)

Key Points

• Longbow Finance SA acquired a new position in Insulet Corporation (NASDAQ:PODD), purchasing 7,510 shares valued at approximately $1,972,000 in the first quarter.
• Insulet reported earnings of $1.02 per share in the latest quarter, surpassing analysts' expectations and showing a 28.8% year-over-year revenue increase.
• While many analysts maintain a positive outlook on Insulet, with a consensus rating of "Moderate Buy", Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.

Longbow Finance SA bought a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,510 shares of the medical instruments supplier's stock, valued at approximately $1,972,000.

Several other large investors have also modified their holdings of PODD. Allspring Global Investments Holdings LLC lifted its position in Insulet by 55.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after buying an additional 1,867 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Insulet by 85.1% in the first quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock worth $236,000 after purchasing an additional 412 shares during the period. QRG Capital Management Inc. lifted its holdings in Insulet by 75.6% in the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock valued at $533,000 after acquiring an additional 874 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Insulet during the 4th quarter worth about $9,822,000. Finally, Exchange Traded Concepts LLC increased its holdings in Insulet by 225.4% in the first quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after buying an additional 1,075 shares during the last quarter.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated 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 sale, the senior vice president owned 23,180 shares of the company's stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PODD shares. The Goldman Sachs Group initiated coverage on Insulet in a research report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price for the company. Raymond James Financial reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Wall Street Zen cut Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Barclays increased their price objective on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Truist Financial assumed coverage on Insulet in a research report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $321.00.

Insulet Stock Performance

PODD traded up $3.64 during trading hours on Friday, hitting $290.22. The company's stock had a trading volume of 528,135 shares, compared to its average volume of 578,892. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $20.43 billion, a PE ratio of 52.20, a PEG ratio of 2.59 and a beta of 1.35. The company has a 50-day simple moving average of $305.68 and a 200 day simple moving average of $281.70. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results 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 company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same period last year, the company earned $0.73 earnings per share. The business's revenue was up 28.8% compared to the same quarter last year. As a group, sell-side analysts expect that Insulet Corporation will post 3.92 EPS 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.