S Bank Fund Management Ltd Takes Position in Insulet Corporation (NASDAQ:PODD)

S Bank Fund Management Ltd purchased a new stake in shares of Insulet Corporation (NASDAQ:PODD) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 754 shares of the medical instruments supplier’s stock, valued at approximately $198,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Insulet by 55.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier’s stock worth $1,376,000 after purchasing an additional 1,867 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Insulet by 85.1% in the first quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier’s stock worth $236,000 after purchasing an additional 412 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Insulet by 75.6% in the first quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier’s stock worth $533,000 after purchasing an additional 874 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Insulet by 225.4% in the first quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier’s stock worth $408,000 after purchasing an additional 1,075 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Insulet by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 8,212 shares of the medical instruments supplier’s stock worth $2,156,000 after purchasing an additional 210 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on PODD shares. Oppenheimer upped their price objective on shares of Insulet from $312.00 to $324.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Royal Bank Of Canada upped their price objective on shares of Insulet from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Jefferies Financial Group restated a “buy” rating on shares of Insulet in a research report on Thursday, August 7th. Canaccord Genuity Group upped their price objective on shares of Insulet from $331.00 to $353.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Truist Financial started coverage on shares of Insulet in a research report on Monday, June 16th. They issued a “buy” rating and a $365.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.71.

Insulet Stock Performance

NASDAQ:PODD opened at $308.68 on Thursday. The firm has a market cap of $21.73 billion, a PE ratio of 93.82, a price-to-earnings-growth ratio of 2.59 and a beta of 1.35. Insulet Corporation has a fifty-two week low of $180.31 and a fifty-two week high of $329.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The business has a 50 day moving average price of $298.24 and a 200-day moving average price of $283.60.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.25. The firm had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.