ABLE Financial Group LLC Invests $952,000 in Insulet Co. (NASDAQ:PODD)

ABLE Financial Group LLC acquired a new position in Insulet Co. (NASDAQ:PODD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,090 shares of the medical instruments supplier’s stock, valued at approximately $952,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Insulet by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after acquiring an additional 169,506 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Insulet by 30.8% during the 2nd quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier’s stock worth $380,607,000 after buying an additional 443,783 shares during the period. Clearbridge Investments LLC lifted its holdings in Insulet by 6.0% during the second quarter. Clearbridge Investments LLC now owns 1,339,763 shares of the medical instruments supplier’s stock valued at $270,364,000 after purchasing an additional 75,526 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Insulet by 3.7% in the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after buying an additional 33,579 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Insulet by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 885,669 shares of the medical instruments supplier’s stock worth $178,728,000 after buying an additional 139,246 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PODD. BTIG Research lifted their price target on Insulet from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Piper Sandler increased their target price on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Canaccord Genuity Group boosted their price target on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Citigroup increased their price objective on shares of Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein started coverage on Insulet in a report on Wednesday. They set an “outperform” rating and a $300.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.13.

Insulet Trading Up 9.2 %

Shares of PODD stock traded up $22.47 during trading hours on Friday, hitting $267.45. The company had a trading volume of 443,349 shares, compared to its average volume of 776,627. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The stock has a market capitalization of $18.75 billion, a PE ratio of 49.18, a price-to-earnings-growth ratio of 4.43 and a beta of 1.22. The company’s fifty day moving average is $230.70 and its 200 day moving average is $203.24. Insulet Co. has a fifty-two week low of $151.56 and a fifty-two week high of $275.00.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a net margin of 21.11% and a return on equity of 30.73%. The firm had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

About Insulet

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.