Norden Group LLC Has $1.26 Million Stock Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• Norden Group LLC reduced its holdings in Insulet Corporation by 22.1% during the first quarter, now owning 4,800 shares valued at approximately $1.26 million.
• Institutional investors have generally increased their positions in Insulet, with Mediolanum International Funds Ltd boosting its stake by 139.2%, now owning 21,264 shares worth about $5.5 million.
• Insulet's stock has shown strong performance, reporting $1.02 EPS for the latest quarter, surpassing analysts’ expectations, with revenue up 28.8% from the previous year.

Norden Group LLC cut its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 22.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,800 shares of the medical instruments supplier's stock after selling 1,362 shares during the quarter. Norden Group LLC's holdings in Insulet were worth $1,261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mackenzie Financial Corp grew its position in shares of Insulet by 39.9% in the 1st quarter. Mackenzie Financial Corp now owns 10,576 shares of the medical instruments supplier's stock valued at $2,777,000 after purchasing an additional 3,015 shares during the period. Empirical Finance LLC grew its position in shares of Insulet by 8.9% in the 1st quarter. Empirical Finance LLC now owns 1,149 shares of the medical instruments supplier's stock valued at $302,000 after purchasing an additional 94 shares during the period. HB Wealth Management LLC grew its position in shares of Insulet by 48.9% in the 1st quarter. HB Wealth Management LLC now owns 2,280 shares of the medical instruments supplier's stock valued at $599,000 after purchasing an additional 749 shares during the period. Angeles Wealth Management LLC grew its position in shares of Insulet by 15.1% in the 1st quarter. Angeles Wealth Management LLC now owns 1,512 shares of the medical instruments supplier's stock valued at $397,000 after purchasing an additional 198 shares during the period. Finally, Mediolanum International Funds Ltd grew its position in shares of Insulet by 139.2% in the 1st quarter. Mediolanum International Funds Ltd now owns 21,264 shares of the medical instruments supplier's stock valued at $5,502,000 after purchasing an additional 12,374 shares during the period.

Insider Activity

In other 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 transaction of $1,680,884.66. Following the sale, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PODD has been the subject of several research analyst reports. Oppenheimer boosted their price objective on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Raymond James Financial reiterated an "outperform" rating and issued a $360.00 price objective (up from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Wall Street Zen cut Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Truist Financial initiated coverage on Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and an average price target of $321.00.

Insulet Trading Up 0.7%

Shares of Insulet stock opened at $292.27 on Tuesday. Insulet Corporation has a 12-month low of $173.00 and a 12-month high of $329.33. The stock has a market cap of $20.57 billion, a P/E ratio of 52.57, a P/E/G ratio of 2.59 and a beta of 1.35. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The business's 50 day moving average is $305.01 and its 200-day moving average is $281.92.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $543.20 million. During the same quarter in the prior year, the business posted $0.73 EPS. The business's revenue was up 28.8% compared to the same quarter last year. Equities research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal 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.

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