Mediolanum International Funds Ltd Buys 12,374 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Insulet Corporation by 139.2% in Q1, acquiring 12,374 shares, bringing their total to 21,264 shares valued at approximately $5.5 million.
• Several institutional investors, including Norges Bank and GAMMA Investing LLC, have significantly increased their stakes in Insulet, with GAMMA's position jumping by 27,298.6% after acquiring over 661,000 shares.
• Insulet's stock has received a consensus rating of "Moderate Buy" from analysts, with price targets ranging from $322 to $380, indicating strong positive sentiment surrounding the company's future performance.

Mediolanum International Funds Ltd increased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 139.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,264 shares of the medical instruments supplier's stock after purchasing an additional 12,374 shares during the period. Mediolanum International Funds Ltd's holdings in Insulet were worth $5,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its position in Insulet by 15.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 51,929 shares of the medical instruments supplier's stock valued at $13,631,000 after buying an additional 7,054 shares during the last quarter. Longbow Finance SA acquired a new stake in Insulet during the first quarter worth about $1,972,000. Trilogy Capital Inc. raised its stake in Insulet by 3.3% during the first quarter. Trilogy Capital Inc. now owns 8,005 shares of the medical instruments supplier's stock worth $2,102,000 after acquiring an additional 252 shares during the period. Cetera Investment Advisers raised its stake in Insulet by 167.0% during the first quarter. Cetera Investment Advisers now owns 6,455 shares of the medical instruments supplier's stock worth $1,695,000 after acquiring an additional 4,037 shares during the period. Finally, Wakefield Asset Management LLLP bought a new position in Insulet in the 1st quarter worth about $255,000.

Insider Transactions at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PODD. Truist Financial began coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price for the company in a research report on Tuesday, May 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Finally, Wall Street Zen lowered Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $321.00.

Insulet Price Performance

Shares of Insulet stock traded down $5.02 during trading on Thursday, hitting $293.25. 192,300 shares of the company's stock traded hands, compared to its average volume of 763,119. 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 firm's fifty day moving average price is $303.77 and its 200 day moving average price is $282.10. Insulet Corporation has a twelve month low of $173.00 and a twelve month high of $329.33. The company has a market cap of $20.64 billion, a PE ratio of 52.72, a PEG ratio of 2.60 and a beta of 1.35.

Insulet (NASDAQ:PODD - Get Free Report) last issued 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 net margin of 18.29% and a return on equity of 22.25%. The business had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same period in the previous year, the business earned $0.73 EPS. The firm's revenue was up 28.8% on a year-over-year basis. Analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

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.