Insulet Corporation $PODD Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Insulet Corporation (NASDAQ:PODD) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 700,624 shares of the medical instruments supplier’s stock after selling 22,739 shares during the quarter. Federated Hermes Inc.’s holdings in Insulet were worth $216,304,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC grew its stake in shares of 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in Insulet by 202.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 69 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Insulet during the 2nd quarter worth about $35,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 43 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Insulet during the 3rd quarter worth about $49,000.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $264.91 on Wednesday. Insulet Corporation has a one year low of $230.05 and a one year high of $354.88. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 76.79, a PEG ratio of 1.51 and a beta of 1.40. The company has a 50-day simple moving average of $295.98 and a 200-day simple moving average of $309.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.11. The firm had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. On average, analysts predict that Insulet Corporation will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Insulet from $410.00 to $380.00 and set an “outperform” rating for the company in a report on Friday, January 9th. Truist Financial lowered their target price on shares of Insulet from $412.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Evercore ISI began coverage on shares of Insulet in a research note on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Leerink Partners raised their price objective on Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $375.05.

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.