Perpetual Ltd Sells 5,898 Shares of Insulet Corporation $PODD

Perpetual Ltd decreased its position in shares of Insulet Corporation (NASDAQ:PODD) by 52.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,246 shares of the medical instruments supplier’s stock after selling 5,898 shares during the period. Perpetual Ltd’s holdings in Insulet were worth $1,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Kozak & Associates Inc. bought a new position in Insulet during the second quarter valued at approximately $32,000. Golden State Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 69 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Insulet during the 2nd quarter valued at approximately $35,000. Osterweis Capital Management Inc. purchased a new position in shares of Insulet in the second quarter valued at $51,000. Finally, NewEdge Advisors LLC increased its position in Insulet by 44.8% in the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 64 shares during the last quarter.

Insulet Price Performance

Shares of PODD stock opened at $289.62 on Friday. The stock has a 50 day moving average price of $316.42 and a 200 day moving average price of $313.70. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. The firm has a market capitalization of $20.37 billion, a P/E ratio of 83.95, a P/E/G ratio of 2.04 and a beta of 1.37.

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

Analysts Set New Price Targets

Several equities analysts have commented on PODD shares. BTIG Research increased their price objective on shares of Insulet from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Zacks Research raised shares of Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Stifel Nicolaus began coverage on Insulet in a research note on Tuesday, October 21st. They set a “buy” rating and a $370.00 price objective on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Insulet in a research note on Friday, November 21st. Finally, Leerink Partners lifted their target price on Insulet from $385.00 to $386.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $379.00.

Insulet 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.