Ownership Capital B.V. Decreases Stock Position in Insulet Co. (NASDAQ:PODD)

Ownership Capital B.V. reduced its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 17.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,894 shares of the medical instruments supplier's stock after selling 41,474 shares during the period. Insulet accounts for about 1.4% of Ownership Capital B.V.'s holdings, making the stock its 23rd biggest holding. Ownership Capital B.V. owned approximately 0.28% of Insulet worth $45,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PODD. Marshall Wace LLP acquired a new stake in Insulet during the second quarter worth about $99,978,000. Baillie Gifford & Co. increased its position in shares of Insulet by 30.8% during the second quarter. Baillie Gifford & Co. now owns 1,886,062 shares of the medical instruments supplier's stock valued at $380,607,000 after acquiring an additional 443,783 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Insulet by 206.9% during the first quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier's stock valued at $73,632,000 after acquiring an additional 289,591 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier's stock valued at $1,405,328,000 after acquiring an additional 169,506 shares during the last quarter. Finally, First Light Asset Management LLC acquired a new stake in shares of Insulet during the first quarter valued at about $25,927,000.

Insulet Stock Performance

PODD traded up $23.02 during trading on Friday, hitting $268.00. The stock had a trading volume of 1,582,981 shares, compared to its average volume of 479,808. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. The firm has a market capitalization of $18.79 billion, a P/E ratio of 45.89, a PEG ratio of 5.00 and a beta of 1.22. The company's 50-day moving average price is $232.01 and its 200 day moving average price is $204.22. Insulet Co. has a twelve month low of $151.56 and a twelve month high of $275.52.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.22% and a return on equity of 30.29%. 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 prior year, the firm posted $0.38 earnings per share. The business's quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Insulet Co. will post 3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PODD shares. Piper Sandler lifted their price objective on shares of Insulet from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Tuesday, September 17th. UBS Group lifted their price objective on shares of Insulet from $211.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Citigroup lifted 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. Sanford C. Bernstein began coverage on shares of Insulet in a research note on Wednesday. They issued an "outperform" rating and a $300.00 price target for the company. Finally, BTIG Research lifted their price target on shares of Insulet from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $246.80.

Insulet Company 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.