Insulet Corporation $PODD Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,929 shares of the medical instruments supplier’s stock after buying an additional 2,356 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Insulet were worth $50,301,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in Insulet by 288.0% in the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Golden State Wealth Management LLC increased its position 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 during the last quarter. Kozak & Associates Inc. acquired a new stake in shares of Insulet in the 2nd quarter valued at about $32,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Insulet in the 2nd quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Insulet during the second quarter worth about $51,000.

Insulet Trading Up 1.3%

Shares of NASDAQ PODD opened at $286.49 on Friday. Insulet Corporation has a 12-month low of $230.05 and a 12-month high of $354.88. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 83.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. 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 stock’s 50 day simple moving average is $303.93 and its 200 day simple moving average is $311.00.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Rothschild & Co Redburn boosted their price objective on Insulet from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wells Fargo & Company lifted their target price on Insulet from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. UBS Group reissued a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Jefferies Financial Group raised their price objective on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Raymond James Financial boosted their target price on shares of Insulet from $366.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $379.10.

Insulet 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.