150,699 Shares in Insulet Corporation $PODD Bought by Parnassus Investments LLC

Parnassus Investments LLC purchased a new stake in shares of Insulet Corporation (NASDAQ:PODD) in the third quarter, according to its most recent filing with the SEC. The firm purchased 150,699 shares of the medical instruments supplier’s stock, valued at approximately $46,525,000. Parnassus Investments LLC owned 0.21% of Insulet at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 72 shares during the period. Kozak & Associates Inc. purchased a new stake in shares of Insulet during the 2nd quarter valued at about $32,000. Golden State Wealth Management LLC raised its stake in shares of Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 69 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Insulet in the second quarter valued at $35,000. Finally, Osterweis Capital Management Inc. acquired a new position in Insulet in the 2nd quarter worth $51,000.

Insulet Price Performance

Shares of Insulet stock opened at $289.04 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $306.95 and a 200-day simple moving average of $311.80. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 83.78, a PEG ratio of 1.63 and a beta of 1.40. Insulet Corporation has a 1-year low of $230.05 and a 1-year high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.11. The business 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%.The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 earnings per share. On average, sell-side analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PODD. Rothschild & Co Redburn raised their price objective on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Evercore ISI started coverage on Insulet in a research report on Tuesday, December 16th. They set an “outperform” rating and a $370.00 price objective for the company. Zacks Research downgraded shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Barclays increased their target price on shares of Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insulet from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.10.

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.