Bellevue Group AG Purchases 3,928 Shares of Insulet Co. (NASDAQ:PODD)

Bellevue Group AG raised its position in Insulet Co. (NASDAQ:PODD) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,828 shares of the medical instruments supplier’s stock after purchasing an additional 3,928 shares during the period. Bellevue Group AG owned 0.42% of Insulet worth $50,362,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors grew its position in Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after buying an additional 1,556,455 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 worth $1,405,328,000 after purchasing an additional 169,506 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Insulet by 18.9% in the first quarter. Baillie Gifford & Co. now owns 1,442,279 shares of the medical instruments supplier’s stock worth $247,207,000 after purchasing an additional 229,520 shares during the last quarter. Norges Bank purchased a new stake in Insulet in the fourth quarter valued at approximately $227,655,000. Finally, William Blair Investment Management LLC raised its stake in Insulet by 3.7% in the first quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock valued at $163,219,000 after purchasing an additional 33,579 shares in the last quarter.

Insulet Trading Up 1.3 %

PODD traded up $2.42 during midday trading on Friday, reaching $193.30. 1,848,011 shares of the company’s stock traded hands, compared to its average volume of 522,031. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $283.00. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The firm has a fifty day moving average of $193.24 and a two-hundred day moving average of $184.45. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 58.58, a P/E/G ratio of 3.48 and a beta of 1.16.

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

Insider Transactions at Insulet

In related news, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total transaction of $596,970.00. Following the sale, the director now directly owns 42,586 shares in the company, valued at $7,703,807.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Mark N. Field sold 2,131 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $190.43, for a total value of $405,806.33. Following the completion of the transaction, the senior vice president now directly owns 14,375 shares in the company, valued at approximately $2,737,431.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Scannell sold 3,300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total transaction of $596,970.00. Following the sale, the director now directly owns 42,586 shares in the company, valued at approximately $7,703,807.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,931 shares of company stock valued at $2,636,286. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PODD. OTR Global restated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Barclays dropped their price target on Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Tuesday, May 7th. Redburn Atlantic initiated coverage on Insulet in a research report on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price for the company. Finally, Jefferies Financial Group increased their price target on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.

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.