Y Intercept Hong Kong Ltd Sells 9,830 Shares of Insulet Corporation $PODD

Y Intercept Hong Kong Ltd lowered its holdings in Insulet Corporation (NASDAQ:PODD) by 42.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,238 shares of the medical instruments supplier’s stock after selling 9,830 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Insulet were worth $4,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Insulet by 3.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,715 shares of the medical instruments supplier’s stock worth $10,718,000 after purchasing an additional 1,093 shares in the last quarter. UniSuper Management Pty Ltd grew its position in shares of Insulet by 16.6% during the 3rd quarter. UniSuper Management Pty Ltd now owns 9,776 shares of the medical instruments supplier’s stock worth $3,018,000 after buying an additional 1,392 shares during the period. MOKAN Wealth Management Inc. acquired a new stake in shares of Insulet in the 3rd quarter valued at about $202,000. iA Global Asset Management Inc. lifted its stake in shares of Insulet by 25.6% in the third quarter. iA Global Asset Management Inc. now owns 6,545 shares of the medical instruments supplier’s stock valued at $2,021,000 after buying an additional 1,336 shares in the last quarter. Finally, Strs Ohio boosted its stake in Insulet by 241.4% during the 3rd quarter. Strs Ohio now owns 16,677 shares of the medical instruments supplier’s stock valued at $5,149,000 after purchasing an additional 11,792 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PODD shares. UBS Group restated a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Wells Fargo & Company raised their price objective on shares of Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Stifel Nicolaus began coverage on shares of Insulet in a research report on Tuesday, October 21st. They issued a “buy” rating and a $370.00 price objective for the company. Sanford C. Bernstein dropped their price objective on Insulet from $410.00 to $380.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Finally, Raymond James Financial raised their target price on shares of Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.10.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $271.57 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 78.72, a price-to-earnings-growth ratio of 1.51 and a beta of 1.40. The business has a 50-day simple moving average of $298.48 and a two-hundred day simple moving average of $310.34.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter last year, the company posted $1.08 EPS. The company’s revenue was up 29.9% compared to the same quarter last year. On average, analysts expect that Insulet Corporation will post 3.92 earnings per share 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.