Redmond Asset Management LLC Sells 9,084 Shares of Insulet Corporation $PODD

Key Points

• Redmond Asset Management cut its Insulet position by 43.3% in the third quarter, selling 9,084 shares and retaining 11,891 shares valued at approximately $1.55 million.
• Analyst sentiment is mixed: Insulet has an overall “Hold” rating, with 13 Buy, 12 Hold, and 1 Sell rating. The average price target is $186.68, though several firms recently lowered their targets.
• Insulet’s latest quarterly results exceeded expectations, with earnings of $1.66 per share and revenue of $801.7 million, up 23.5% year over year.

Redmond Asset Management LLC decreased its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 43.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,891 shares of the medical instruments supplier's stock after selling 9,084 shares during the period. Redmond Asset Management LLC's holdings in Insulet were worth $1,551,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PODD. Elevation Wealth Partners LLC raised its position in shares of Insulet by 115.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 194 shares of the medical instruments supplier's stock valued at $25,000 after buying an additional 104 shares during the period. Activest Wealth Management lifted its holdings in Insulet by 186.3% in the third quarter. Activest Wealth Management now owns 229 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 149 shares during the last quarter. Sound Income Strategies LLC grew its position in Insulet by 4,620.0% in the first quarter. Sound Income Strategies LLC now owns 236 shares of the medical instruments supplier's stock worth $49,000 after acquiring an additional 231 shares during the period. WPG Advisers LLC grew its position in Insulet by 169.3% in the third quarter. WPG Advisers LLC now owns 272 shares of the medical instruments supplier's stock worth $35,000 after acquiring an additional 171 shares during the period. Finally, State of Wyoming grew its position in Insulet by 34.6% in the first quarter. State of Wyoming now owns 284 shares of the medical instruments supplier's stock worth $60,000 after acquiring an additional 73 shares during the period.

Analyst Ratings Changes

PODD has been the topic of a number of research analyst reports. Leerink Partners downgraded Insulet from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $247.00 to $145.00 in a research report on Thursday, August 6th. Citigroup increased their price target on Insulet from $165.00 to $172.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Raymond James Financial reissued an "outperform" rating and set a $180.00 price objective on shares of Insulet in a research report on Thursday, August 6th. Robert W. Baird set a $175.00 price objective on shares of Insulet in a report on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their target price on shares of Insulet from $245.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $186.68.

Insulet Stock Down 0.6%

Shares of NASDAQ PODD opened at $148.93 on Thursday. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.17 and a beta of 1.11. The company has a quick ratio of 1.83, a current ratio of 2.48 and a debt-to-equity ratio of 0.65. Insulet Corporation has a 52-week low of $126.40 and a 52-week high of $354.88. The business's 50 day moving average is $140.84 and its two-hundred day moving average is $181.20.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical instruments supplier reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.19. Insulet had a return on equity of 29.29% and a net margin of 12.29%. The company had revenue of $801.70 million for the quarter, compared to analysts' expectations of $787.39 million. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm's revenue was up 23.5% compared to the same quarter last year. Insulet has set its FY 2026 guidance at 6.460- EPS. Research analysts predict that Insulet Corporation will post 6.51 EPS for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company that develops, manufactures and sells wearable, tubeless insulin delivery systems for people with insulin-dependent diabetes. Its products are designed to provide an alternative to traditional insulin injections and conventional tubed insulin pumps.

The company's primary product platform is Omnipod, which includes the disposable, wearable Pod and a handheld controller or compatible smartphone-based application. Omnipod products include the Omnipod DASH system and the Omnipod 5 Automated Insulin Delivery System, which is designed to integrate with compatible continuous glucose monitoring technology to help automate insulin delivery.

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