Mediolanum International Funds Ltd Takes Position in Insulet Co. (NASDAQ:PODD)

Mediolanum International Funds Ltd acquired a new stake in shares of Insulet Co. (NASDAQ:PODD) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 35,305 shares of the medical instruments supplier’s stock, valued at approximately $5,973,000. Mediolanum International Funds Ltd owned 0.05% of Insulet at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PODD. Capital Research Global Investors lifted its stake in Insulet by 19.7% in the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after purchasing an additional 1,556,455 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Insulet in the 4th quarter worth about $263,144,000. Norges Bank purchased a new stake in Insulet in the 4th quarter worth about $227,655,000. Goldman Sachs Group Inc. raised its position in Insulet by 56.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock worth $190,623,000 after purchasing an additional 316,649 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Insulet by 462.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 299,654 shares of the medical instruments supplier’s stock worth $51,361,000 after purchasing an additional 246,364 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PODD shares. Jefferies Financial Group upped their target price on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday, May 7th. Barclays dropped their target price on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Raymond James dropped their target price on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, OTR Global reiterated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.

Insulet Stock Up 1.3 %

PODD traded up $2.50 during trading on Wednesday, hitting $197.67. The stock had a trading volume of 449,799 shares, compared to its average volume of 857,205. The stock has a 50 day simple moving average of $187.72 and a two-hundred day simple moving average of $185.61. The company has a market capitalization of $13.84 billion, a PE ratio of 59.14, a PEG ratio of 3.58 and a beta of 1.16. Insulet Co. has a twelve month low of $125.82 and a twelve month high of $293.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. The business had revenue of $441.70 million during the quarter, compared to analysts’ expectations of $424.05 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. On average, research analysts predict that Insulet Co. will post 3.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Mark N. Field sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $199.96, for a total transaction of $299,940.00. Following the completion of the transaction, the senior vice president now owns 12,875 shares of the company’s stock, valued at $2,574,485. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Mark N. Field sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $199.96, for a total transaction of $299,940.00. Following the completion of the transaction, the senior vice president now owns 12,875 shares of the company’s stock, valued at $2,574,485. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,931 shares of company stock valued at $2,636,286. Insiders own 0.47% 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.