Sumitomo Mitsui Trust Group Inc. cut its position in Insulet Corporation (NASDAQ:PODD – Free Report) by 88.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,107 shares of the medical instruments supplier’s stock after selling 141,890 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Insulet were worth $2,362,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Insulet in the 2nd quarter worth about $1,018,582,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Insulet by 462.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,229,928 shares of the medical instruments supplier’s stock valued at $258,088,000 after purchasing an additional 1,011,369 shares during the period. Man Group plc bought a new stake in shares of Insulet during the second quarter valued at approximately $78,746,000. Bank of America Corp DE bought a new stake in shares of Insulet during the second quarter valued at approximately $64,921,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Insulet during the second quarter valued at approximately $60,615,000.
Key Insulet News
Here are the key news stories impacting Insulet this week:
- Positive Sentiment: Several firms raised targets and maintained bullish ratings: RBC lifted its target to $180 and kept an Outperform rating, Bernstein raised its target to $200 and kept Outperform, and Canaccord reiterated Buy with a $179 target. RBC target update Canaccord rating update
- Positive Sentiment: Other analysts also raised targets, while commentary described Insulet as potentially undervalued and highlighted its $1 billion buyback. Recent quarterly results provide support: the company beat earnings and revenue estimates, with revenue up 19.2% year over year, according to the supplied company data. Valuation and buyback article
- Neutral Sentiment: UBS, JPMorgan, Citi, Barclays, Wells Fargo and Leerink all increased their price targets, generally retaining Neutral, Equal Weight or Market Perform ratings. The higher targets are supportive, but the largely unchanged ratings suggest analysts see risks as well as recovery potential.
- Negative Sentiment: Analyst discussion flagged a more conservative 2027 outlook and competition, tempering optimism about Insulet’s growth. Coverage characterized the outlook as moderate despite international strength and an innovation pipeline. RBC outlook article Q3 growth analysis
Insulet Trading Down 6.2%
Shares of PODD opened at $146.51 on Friday. Insulet Corporation has a 1-year low of $126.40 and a 1-year high of $354.88. The business’s 50-day moving average price is $141.97 and its 200 day moving average price is $176.65. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $10.16 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.08 and a beta of 1.06.
Insulet (NASDAQ:PODD – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The medical instruments supplier reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.40. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $832.63 million. Insulet had a net margin of 13.44% and a return on equity of 31.76%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Analysts expect that Insulet Corporation will post 6.75 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Insulet from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday. Benchmark lowered their target price on Insulet from $250.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Leerink Partners lifted their target price on Insulet from $143.00 to $167.00 and gave the company a “market perform” rating in a research note on Thursday. Barclays boosted their price target on Insulet from $150.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen upgraded Insulet from a “hold” rating to a “buy” rating in a research report on Saturday. Twelve equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Insulet currently has an average rating of “Hold” and an average price target of $185.38.
Check Out Our Latest Stock Report on Insulet
Insulet Company Profile
Insulet Corporation is a medical device company focused on insulin delivery for people with diabetes. Founded in 2000, the company developed the Omnipod platform, which delivers insulin through a small, wearable pod without the tubing used by many traditional insulin pumps.
Its products include Omnipod DASH and Omnipod 5, an automated insulin delivery system that can adjust insulin delivery based on glucose readings from compatible continuous glucose monitors. Insulet also provides related controllers, mobile app features, supplies and customer support.
Insulet serves customers in the United States and international markets.
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