Patton Fund Management Inc. Acquires 13,972 Shares of Insulet Corporation $PODD

Patton Fund Management Inc. lifted its holdings in Insulet Corporation (NASDAQ:PODD) by 1,655.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,816 shares of the medical instruments supplier’s stock after purchasing an additional 13,972 shares during the quarter. Insulet accounts for about 0.8% of Patton Fund Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Patton Fund Management Inc.’s holdings in Insulet were worth $4,574,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in Insulet by 202.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock worth $32,000 after buying an additional 69 shares in the last quarter. Kozak & Associates Inc. purchased a new stake in shares of Insulet during the 2nd quarter valued at about $32,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Insulet during the 2nd quarter valued at about $35,000. Osterweis Capital Management Inc. bought a new stake in shares of Insulet in the second quarter worth approximately $51,000. Finally, NewEdge Advisors LLC grew its stake in shares of 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 acquiring an additional 64 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on PODD shares. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Wolfe Research boosted their target price on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Jefferies Financial Group raised their price target on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Zacks Research raised Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Cowen reiterated a “buy” rating on shares of Insulet in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $379.00.

Insulet Trading Up 0.7%

Shares of PODD stock opened at $291.57 on Tuesday. Insulet Corporation has a 1 year low of $230.05 and a 1 year high of $354.88. The firm has a fifty day moving average price of $315.96 and a 200-day moving average price of $313.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 84.51, a PEG ratio of 2.04 and a beta of 1.37.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. The company had revenue of $521.70 million for the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.Insulet’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. As a group, equities analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Company 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.