Perpetual Ltd Purchases Shares of 11,795 Insulet Corporation (NASDAQ:PODD)

Perpetual Ltd acquired a new position in Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,795 shares of the medical instruments supplier's stock, valued at approximately $3,097,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock worth $463,347,000 after purchasing an additional 40,566 shares during the last quarter. Norges Bank bought a new stake in Insulet in the fourth quarter worth $248,806,000. Artisan Partners Limited Partnership boosted its holdings in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Northern Trust Corp increased its position in Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after buying an additional 125,710 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock valued at $1,744,100,000 after buying an additional 661,717 shares in the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the subject of several recent analyst reports. Barclays upped their price target 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 assumed coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price for the company. Citigroup reiterated a "buy" rating and set a $380.00 price target (up previously from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Oppenheimer boosted their price objective on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Stock Performance

Insulet stock traded down $14.19 during trading hours on Tuesday, hitting $299.99. The stock had a trading volume of 1,404,448 shares, compared to its average volume of 716,587. The company has a 50-day moving average of $300.32 and a two-hundred day moving average of $278.15. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The company has a market cap of $21.11 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 2.80 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 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet's revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Activity

In other 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 sale, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company's stock.

Insulet Company 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.