Vanguard Group Inc. Purchases 178,976 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Vanguard Group Inc. has increased its stake in Insulet Corporation by 2.1%, acquiring an additional 178,976 shares to reach a total of approximately 8.67 million shares, representing 12.32% of the company.
• A number of other institutional investors have also modified their holdings, with ING Groep NV notably raising its stake by 1,563.3% during the same quarter.
• Insulet's recent earnings report beat analyst expectations, with $1.17 EPS reported compared to a consensus of $0.92, and revenue growth of 32.9% year-over-year.

Vanguard Group Inc. increased its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,668,952 shares of the medical instruments supplier's stock after acquiring an additional 178,976 shares during the quarter. Vanguard Group Inc. owned about 12.32% of Insulet worth $2,276,553,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Ithaka Group LLC raised its stake in shares of Insulet by 4.8% during the 1st quarter. Ithaka Group LLC now owns 30,424 shares of the medical instruments supplier's stock worth $7,990,000 after acquiring an additional 1,389 shares in the last quarter. Advyzon Investment Management LLC bought a new position in shares of Insulet during the 1st quarter worth approximately $253,000. ING Groep NV raised its stake in shares of Insulet by 1,563.3% during the 1st quarter. ING Groep NV now owns 35,428 shares of the medical instruments supplier's stock worth $9,304,000 after acquiring an additional 33,298 shares in the last quarter. Cumberland Partners Ltd purchased a new stake in Insulet during the 1st quarter worth approximately $1,707,000. Finally, PNC Financial Services Group Inc. grew its position in Insulet by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,361 shares of the medical instruments supplier's stock worth $3,509,000 after purchasing an additional 333 shares during the last quarter.

Insider Transactions at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

PODD has been the topic of several research analyst reports. Truist Financial initiated coverage on shares of Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 target price on the stock. Oppenheimer boosted their target price on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Royal Bank Of Canada boosted their target price on shares of Insulet from $330.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 target price on the stock. Finally, Morgan Stanley reissued an "overweight" rating on shares of Insulet in a research report on Thursday. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.71.

Insulet Stock Up 1.2%

PODD stock opened at $307.10 on Friday. The firm's fifty day simple moving average is $299.12 and its 200-day simple moving average is $283.03. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The company has a market capitalization of $21.61 billion, a P/E ratio of 93.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.26 and a quick ratio of 3.63.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.25. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The firm had revenue of $649.10 million for the quarter, compared to the consensus estimate of $612.31 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. As a group, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.