TD Asset Management Inc Has $12.22 Million Stake in Insulet Corporation $PODD

TD Asset Management Inc boosted its stake in shares of Insulet Corporation (NASDAQ:PODD) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,568 shares of the medical instruments supplier’s stock after acquiring an additional 10,815 shares during the quarter. TD Asset Management Inc owned 0.06% of Insulet worth $12,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Insulet during the 2nd quarter worth about $324,689,000. Qube Research & Technologies Ltd bought a new position in shares of Insulet in the second quarter valued at approximately $131,439,000. Worldquant Millennium Advisors LLC bought a new stake in Insulet during the 2nd quarter worth approximately $80,082,000. Munro Partners increased its holdings in Insulet by 1,483.0% during the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after purchasing an additional 212,885 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in Insulet in the 3rd quarter valued at $46,525,000.

Insulet Trading Down 1.9%

Shares of NASDAQ:PODD opened at $246.61 on Monday. The company’s 50-day moving average price is $268.21 and its two-hundred day moving average price is $303.09. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88. 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 stock has a market capitalization of $17.36 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (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 business had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. Insulet’s quarterly revenue was up 31.2% on a year-over-year basis. On average, equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group restated a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. BTIG Research reiterated a “buy” rating and issued a $380.00 price objective on shares of Insulet in a research report on Wednesday, February 18th. Raymond James Financial decreased their price target on Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Sanford C. Bernstein reduced their target price on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Finally, Truist Financial cut their price objective on shares of Insulet from $390.00 to $360.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.57.

Insider Buying and Selling at Insulet

In other news, Director Michael R. Minogue bought 2,030 shares of the 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 acquisition, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.