Wedmont Private Capital Raises Holdings in Insulet Co. (NASDAQ:PODD)

Wedmont Private Capital grew its stake in Insulet Co. (NASDAQ:PODD) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,433 shares of the medical instruments supplier’s stock after buying an additional 48 shares during the quarter. Wedmont Private Capital’s holdings in Insulet were worth $326,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Insulet by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,265 shares of the medical instruments supplier’s stock worth $1,264,000 after acquiring an additional 66 shares in the last quarter. UMB Bank n.a. increased its holdings in Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 81 shares during the last quarter. Moody National Bank Trust Division raised its stake in Insulet by 2.6% in the first quarter. Moody National Bank Trust Division now owns 3,439 shares of the medical instruments supplier’s stock valued at $589,000 after buying an additional 87 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in Insulet by 7.1% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,397 shares of the medical instruments supplier’s stock worth $239,000 after buying an additional 93 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of Insulet by 23.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 505 shares of the medical instruments supplier’s stock worth $118,000 after acquiring an additional 95 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PODD shares. Canaccord Genuity Group boosted their target price on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BTIG Research lowered their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler lifted their price target on shares of Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. UBS Group boosted their price target on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Barclays raised their price objective on Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $234.60.

Insulet Stock Performance

Shares of PODD opened at $233.10 on Friday. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $243.98. The stock has a market capitalization of $16.34 billion, a P/E ratio of 42.38, a P/E/G ratio of 4.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The company’s fifty day moving average is $214.20 and its two-hundred day moving average is $194.85.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The firm had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Insulet Co. will post 3.04 earnings per share 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.