Thornburg Investment Management Inc. Takes $4.33 Million Position in Insulet Corporation (NASDAQ:PODD)

Key Points

• Thornburg Investment Management has made a new investment of approximately $4.33 million in Insulet Corporation, acquiring 16,470 shares in the first quarter.
• Insulet has received multiple buy ratings from various analysts, with price targets reaching up to $380.00, while currently maintaining an average price target of $321.00.
• In its latest earnings report, Insulet posted an EPS of $1.02, exceeding expectations by 21 cents, with a year-over-year revenue growth of 28.8%.

Thornburg Investment Management Inc. bought a new position in Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 16,470 shares of the medical instruments supplier's stock, valued at approximately $4,325,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Insulet by 27,298.6% in 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 acquiring an additional 661,717 shares in the last quarter. Northern Trust Corp lifted its position in shares of Insulet by 20.5% in the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after acquiring an additional 125,710 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Insulet by 23.4% in the first quarter. Federated Hermes Inc. now owns 632,869 shares of the medical instruments supplier's stock valued at $166,198,000 after acquiring an additional 120,197 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Insulet in the fourth quarter valued at about $29,993,000. Finally, Marshall Wace LLP lifted its position in shares of Insulet by 29.6% in the fourth quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock valued at $127,015,000 after acquiring an additional 111,119 shares in the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the topic of several research analyst reports. Raymond James Financial restated an "outperform" rating and issued a $360.00 price objective (up from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Wolfe Research raised Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a report on Tuesday, May 13th. Oppenheimer lifted their target price on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Citigroup reaffirmed a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group initiated coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Insulet has a consensus rating of "Moderate Buy" and an average price target of $321.00.

Insider Buying and Selling

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares in the company, valued at $7,382,134.60. The trade was a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company's stock.

Insulet Stock Performance

NASDAQ:PODD traded down $3.49 during mid-day trading on Friday, hitting $284.91. The company's stock had a trading volume of 567,392 shares, compared to its average volume of 489,973. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 51.24, a PEG ratio of 2.57 and a beta of 1.35. The business's fifty day moving average is $302.39 and its two-hundred day moving average is $282.37.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm's revenue was up 28.8% on a year-over-year basis. Analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

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.