OVERSEA CHINESE BANKING Corp Ltd Buys New Stake in Insulet Co. (NASDAQ:PODD)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Insulet Co. (NASDAQ:PODD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,043 shares of the medical instruments supplier’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. purchased a new stake in shares of Insulet during the fourth quarter valued at approximately $263,144,000. William Blair Investment Management LLC boosted its position in Insulet by 145.1% in the 3rd quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after buying an additional 433,884 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Insulet by 227.3% in the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock worth $61,673,000 after acquiring an additional 268,553 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Insulet by 62.4% in the third quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock valued at $101,637,000 after purchasing an additional 244,922 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Insulet during the 3rd quarter valued at approximately $29,455,000.

Insulet Trading Down 1.1 %

Shares of NASDAQ:PODD opened at $164.42 on Tuesday. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86. The company has a market cap of $11.51 billion, a PE ratio of 56.50, a P/E/G ratio of 2.99 and a beta of 0.98. The company’s 50-day moving average price is $173.42 and its 200 day moving average price is $179.28.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.73. The business had revenue of $509.80 million during the quarter, compared to the consensus estimate of $461.26 million. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The business’s revenue was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. Sell-side analysts anticipate that Insulet Co. will post 3.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PODD. JPMorgan Chase & Co. upped their price target on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus upped their price objective on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Barclays lowered their price target on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Finally, Piper Sandler dropped their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.21.

Insider Activity

In related news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

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.