Sei Investments Co. Buys 35,893 Shares of Insulet Corporation (NASDAQ:PODD)

Sei Investments Co. raised its stake in shares of Insulet Corporation (NASDAQ:PODD) by 49.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,059 shares of the medical instruments supplier’s stock after acquiring an additional 35,893 shares during the quarter. Sei Investments Co. owned approximately 0.15% of Insulet worth $28,270,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PODD. Sagespring Wealth Partners LLC bought a new position in shares of Insulet during the fourth quarter valued at $235,000. Mariner LLC lifted its holdings in shares of Insulet by 8.1% during the fourth quarter. Mariner LLC now owns 6,727 shares of the medical instruments supplier’s stock valued at $1,756,000 after acquiring an additional 505 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Insulet by 332.4% during the fourth quarter. CreativeOne Wealth LLC now owns 3,835 shares of the medical instruments supplier’s stock valued at $1,001,000 after acquiring an additional 2,948 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Insulet during the fourth quarter valued at $324,000. Finally, Guggenheim Capital LLC raised its holdings in shares of Insulet by 25.6% in the fourth quarter. Guggenheim Capital LLC now owns 22,355 shares of the medical instruments supplier’s stock valued at $5,836,000 after buying an additional 4,555 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PODD shares. Wells Fargo & Company lifted their price target on Insulet from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Truist Financial started coverage on Insulet in a report on Monday, June 16th. They issued a “buy” rating and a $365.00 price target for the company. Oppenheimer lifted their price target on Insulet from $312.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Insulet in a report on Thursday, August 7th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 price target for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $330.71.

Insulet Price Performance

Insulet stock opened at $308.68 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $298.24 and a 200-day moving average of $283.60. Insulet Corporation has a 1 year low of $180.31 and a 1 year high of $329.33. The firm has a market capitalization of $21.73 billion, a P/E ratio of 93.82, a PEG ratio of 2.59 and a beta of 1.35.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.25. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The business had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. During the same period in the previous year, the firm earned $0.55 EPS. Insulet’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insulet Company 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.