Insulet Corporation $PODD Stock Position Increased by Munro Partners

Munro Partners grew its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 1,483.0% in the third quarter, HoldingsChannel reports. The fund owned 227,240 shares of the medical instruments supplier’s stock after buying an additional 212,885 shares during the period. Insulet makes up about 1.9% of Munro Partners’ portfolio, making the stock its 25th largest holding. Munro Partners’ holdings in Insulet were worth $70,156,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marshall Financial Group LLC bought a new position in shares of Insulet in the second quarter valued at approximately $943,000. Inspire Investing LLC raised its holdings in Insulet by 299.5% during the first quarter. Inspire Investing LLC now owns 4,119 shares of the medical instruments supplier’s stock worth $1,082,000 after purchasing an additional 3,088 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Insulet by 41.3% in the second quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after purchasing an additional 3,514 shares during the period. Gradient Investments LLC bought a new position in Insulet during the 2nd quarter valued at $17,429,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Insulet by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 579,302 shares of the medical instruments supplier’s stock valued at $152,130,000 after purchasing an additional 10,628 shares during the period.

Insulet Stock Performance

Insulet stock opened at $285.50 on Wednesday. The firm’s 50 day simple moving average is $315.30 and its 200-day simple moving average is $313.30. The company has a market cap of $20.08 billion, a P/E ratio of 82.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The business had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts predict that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on PODD. Wolfe Research upped their price objective on Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Rothschild & Co Redburn boosted their price target on shares of Insulet from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Barclays raised their price objective on shares of Insulet from $300.00 to $301.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Jefferies Financial Group lifted their price objective on shares of Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $379.00.

About Insulet

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.