Sei Investments Co. Increases Stock Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• Sei Investments Co. increased its stake in Insulet Corporation by nearly 50%, acquiring an additional 35,893 shares during the first quarter.
• Insulet reported $1.17 EPS for the last quarter, exceeding the consensus estimate by $0.25, and noted a 32.9% increase in revenue year-over-year.
• Research analysts have been optimistic about Insulet, with seventeen analysts rating it a "buy" and setting a consensus target price of $330.71.

Sei Investments Co. boosted its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 49.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 108,059 shares of the medical instruments supplier's stock after acquiring an additional 35,893 shares during the period. Sei Investments Co. owned 0.15% of Insulet worth $28,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Insulet by 426.3% during the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock valued at $26,000 after buying an additional 81 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Insulet during the first quarter valued at about $26,000. SouthState Corp increased its position in shares of Insulet by 253.3% during the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 76 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Insulet during the fourth quarter valued at about $42,000. Finally, Ramirez Asset Management Inc. bought a new stake in shares of Insulet during the first quarter valued at about $53,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their price target on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Insulet from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada upped their price objective on shares of Insulet from $330.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Insulet from $331.00 to $353.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.71.

Insulet Trading Up 1.7%

Shares of NASDAQ:PODD traded up $5.49 during trading on Friday, reaching $321.27. 617,194 shares of the company traded hands, compared to its average volume of 695,485. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of 97.65, a P/E/G ratio of 2.69 and a beta of 1.35. Insulet Corporation has a 52-week low of $180.31 and a 52-week high of $329.33. The company has a current ratio of 2.26, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The business's fifty day moving average is $298.40 and its 200-day moving average is $284.23.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $612.31 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 32.9% compared to the same quarter last year. As a group, analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

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.