Renaissance Technologies LLC Raises Holdings in Insulet Corporation $PODD

Key Points

• Renaissance Technologies increased its Insulet stake by 40.5% in the first quarter, buying 122,720 more shares and ending with 426,003 shares valued at about $89.4 million.
• Insulet’s recent earnings beat expectations, with Q1 EPS of $1.42 versus $1.19 expected and revenue of $761.7 million, up 33.9% year over year.
• The stock faces some pressure from multiple securities class actions alleging misleading statements about manufacturing and safety issues, even as analysts mostly remain constructive with a consensus Moderate Buy rating and $235.25 target price.

Renaissance Technologies LLC lifted its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 40.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 426,003 shares of the medical instruments supplier's stock after purchasing an additional 122,720 shares during the quarter. Renaissance Technologies LLC owned about 0.62% of Insulet worth $89,392,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Insulet by 114.6% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the medical instruments supplier's stock valued at $25,000 after buying an additional 47 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Insulet during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of Insulet during the 4th quarter worth approximately $28,000. DV Equities LLC bought a new position in shares of Insulet during the 4th quarter valued at approximately $28,000. Finally, MV Capital Management Inc. bought a new position in shares of Insulet during the 4th quarter valued at approximately $29,000.

Insider Activity at Insulet

In other news, Director Timothy C. Stonesifer purchased 2,790 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost of $143.51 per share, for a total transaction of $400,392.90. Following the acquisition, the director owned 9,041 shares of the company's stock, valued at approximately $1,297,473.91. This trade represents a 44.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.36% of the company's stock.

Trending Headlines about Insulet

Here are the key news stories impacting Insulet this week:

• Positive Sentiment: No meaningful positive company-specific catalysts were reported in the latest batch of news.
• Neutral Sentiment: Short-interest data showed 0 shares reported short as of July 24, with a 0.0-day days-to-cover ratio, offering little actionable insight from that update.
• Negative Sentiment: Multiple law firms, including Rosen, Schall, Glancy Prongay, Pomerantz, Bernstein Liebhard, Faruqi & Faruqi, and others, announced or promoted securities class actions against Insulet, which can weigh on investor confidence. Article link
• Negative Sentiment: The lawsuits allege Insulet made misleading statements about manufacturing quality and safety issues, including problems at its Acton facility and flawed pods, suggesting potential reputational and legal overhang for the stock. Article link

Analysts Set New Price Targets

PODD has been the topic of a number of recent research reports. Citigroup upped their price target on shares of Insulet from $165.00 to $172.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Jefferies Financial Group reduced their target price on shares of Insulet from $400.00 to $360.00 in a report on Thursday, May 7th. Stifel Nicolaus lowered their price target on shares of Insulet from $250.00 to $225.00 and set a "buy" rating for the company in a report on Friday, July 10th. Rothschild & Co Redburn reaffirmed a "neutral" rating and issued a $220.00 price target (down from $380.00) on shares of Insulet in a report on Friday, April 24th. Finally, Truist Financial reduced their price objective on Insulet from $219.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Twenty-two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.25.

Insulet Stock Up 3.1%

Shares of PODD opened at $163.26 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.49 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $154.09 and a 200 day moving average of $202.61. The company has a market cap of $11.31 billion, a PE ratio of 37.97, a P/E/G ratio of 1.14 and a beta of 1.11. Insulet Corporation has a 52-week low of $138.79 and a 52-week high of $354.88.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The medical instruments supplier reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.23. Insulet had a net margin of 10.44% and a return on equity of 26.87%. The business had revenue of $761.70 million for the quarter, compared to analysts' expectations of $729.89 million. During the same quarter in the previous year, the business posted $1.02 earnings per share. The business's revenue was up 33.9% compared to the same quarter last year. Insulet has set its FY 2026 guidance at 6.210- EPS. On average, sell-side analysts expect that Insulet Corporation will post 6.45 EPS for the current year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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