Rhenman & Partners Asset Management AB Grows Stock Position in Insulet Corporation $PODD

Rhenman & Partners Asset Management AB boosted its position in Insulet Corporation (NASDAQ:PODD) by 26.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,000 shares of the medical instruments supplier’s stock after buying an additional 12,000 shares during the period. Insulet makes up about 2.0% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 19th biggest position. Rhenman & Partners Asset Management AB owned approximately 0.08% of Insulet worth $17,906,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Insulet by 288.0% in the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after acquiring an additional 72 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after acquiring an additional 69 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Insulet by 48.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 43 shares in the last quarter. Quent Capital LLC purchased a new position in Insulet during the third quarter worth about $49,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Insulet in the second quarter valued at about $51,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on PODD. Barclays reaffirmed an “underweight” rating and issued a $286.00 price objective on shares of Insulet in a report on Thursday, February 19th. Royal Bank Of Canada lifted their price target on Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. The Goldman Sachs Group cut their price objective on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. TD Cowen lowered shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research report on Monday, January 26th. Finally, Evercore set a $340.00 price target on shares of Insulet in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $354.57.

Insider Activity

In related news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, with a total value of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Insulet Stock Down 1.6%

PODD stock opened at $237.01 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The company’s 50 day simple moving average is $263.52 and its 200-day simple moving average is $300.42. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The firm has a market capitalization of $16.69 billion, a PE ratio of 67.72, a P/E/G ratio of 1.41 and a beta of 1.42.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. Equities analysts expect that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insulet Company Profile

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.