Paladin Wealth LLC Purchases Shares of 1,802 Insulet Corporation $PODD

Key Points

• Paladin Wealth LLC acquired 1,802 shares of Insulet Corporation valued at approximately $566,000 during the second quarter of 2023.
• Insulet reported a quarterly earnings per share (EPS) of $1.17, surpassing the consensus estimate of $0.92, and experiencing a 32.9% year-over-year revenue increase.
• Equities analysts have positively adjusted their price targets for Insulet, with Barclays raising it from $266.00 to $300.00 and Wells Fargo from $330.00 to $350.00, reflecting strong market confidence in the stock.

Paladin Wealth LLC purchased a new position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,802 shares of the medical instruments supplier's stock, valued at approximately $566,000.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new position in Insulet during the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its position in Insulet by 426.3% during the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. SouthState Corp boosted its position in Insulet by 253.3% during the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in Insulet during the first quarter worth approximately $53,000. Finally, NewEdge Advisors LLC boosted its position in Insulet by 44.8% during the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier's stock worth $54,000 after purchasing an additional 64 shares in the last quarter.

Insulet Price Performance

NASDAQ:PODD opened at $341.78 on Monday. Insulet Corporation has a one year low of $225.37 and a one year high of $353.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The stock has a market cap of $24.06 billion, a PE ratio of 103.88, a P/E/G ratio of 2.84 and a beta of 1.36. The stock has a 50 day moving average price of $311.59 and a 200 day moving average price of $292.31.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, beating the consensus estimate of $0.92 by $0.25. Insulet had a return on equity of 23.78% and a net margin of 10.01%.The firm had revenue of $649.10 million during the quarter, compared to analysts' expectations of $612.31 million. During the same quarter last year, the firm earned $0.55 earnings per share. The business's revenue for the quarter was up 32.9% on a year-over-year basis. Insulet has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on Insulet from $266.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 21st. Jefferies Financial Group reissued a "buy" rating on shares of Insulet in a report on Thursday, August 7th. Wells Fargo & Company increased their target price on Insulet from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen raised Insulet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada increased their target price on Insulet from $330.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $335.12.

Insider Activity at Insulet

In other Insulet news, SVP Prem Singh sold 687 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $347.49, for a total transaction of $238,725.63. Following the completion of the sale, the senior vice president owned 3,456 shares of the company's stock, valued at $1,200,925.44. This trade represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Laetitia Cousin sold 797 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $348.81, for a total value of $278,001.57. Following the sale, the senior vice president directly owned 3,890 shares of the company's stock, valued at approximately $1,356,870.90. This trade represents a 17.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

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.

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