Insulet Corporation $PODD Stock Holdings Lifted by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC increased its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 145.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,610 shares of the medical instruments supplier’s stock after buying an additional 3,920 shares during the period. Pier 88 Investment Partners LLC’s holdings in Insulet were worth $2,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors 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 valued at $30,000 after purchasing an additional 72 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 69 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Insulet during the 2nd quarter worth about $35,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 43 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of Insulet during the third quarter valued at $49,000.

Wall Street Analyst Weigh In

PODD has been the topic of several research reports. Stifel Nicolaus started coverage on shares of Insulet in a research note on Tuesday, October 21st. They issued a “buy” rating and a $370.00 price objective on the stock. Wolfe Research boosted their target price on Insulet from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Rothschild & Co Redburn raised their price target on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Jefferies Financial Group increased their price target on shares of Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company raised their price objective on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average target price of $379.10.

Insulet Price Performance

Insulet stock opened at $271.31 on Tuesday. Insulet Corporation has a 52 week low of $230.05 and a 52 week high of $354.88. The business’s fifty day moving average is $297.35 and its two-hundred day moving average is $310.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.18 and a current ratio of 2.87. The firm has a market cap of $19.09 billion, a P/E ratio of 78.64, a P/E/G ratio of 1.51 and a beta of 1.40.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Insulet had a net margin of 9.76% and a return on equity of 24.36%. The company had revenue of $521.70 million during the quarter, compared to the consensus estimate of $678.70 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. Equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

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.