Jain Global LLC Purchases 63,719 Shares of Insulet Corporation $PODD

Jain Global LLC lifted its position in shares of Insulet Corporation (NASDAQ:PODD) by 148.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,710 shares of the medical instruments supplier’s stock after purchasing an additional 63,719 shares during the period. Jain Global LLC owned 0.15% of Insulet worth $32,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 72 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Insulet by 48.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 43 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Insulet in the third quarter valued at approximately $49,000. Osterweis Capital Management Inc. bought a new position in shares of Insulet during the 2nd quarter worth approximately $51,000. Finally, Zions Bancorporation National Association UT boosted its stake in shares of Insulet by 57.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 173 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 63 shares during the period.

Insulet Stock Performance

NASDAQ:PODD opened at $219.84 on Monday. The stock has a 50 day simple moving average of $258.47 and a 200 day simple moving average of $296.80. The stock has a market cap of $15.48 billion, a P/E ratio of 62.81, a PEG ratio of 1.31 and a beta of 1.42. Insulet Corporation has a 1-year low of $216.49 and a 1-year high of $354.88. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Leerink Partners dropped their price target on Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Oppenheimer reduced their price objective on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Evercore set a $340.00 price objective on shares of Insulet in a research report on Thursday, February 19th. JPMorgan Chase & Co. cut their target price on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Truist Financial reduced their target price on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Twenty equities 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $354.24.

Insider Activity at Insulet

In other Insulet news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company’s stock.

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.