Ayrshire Capital Management LLC Makes New Investment in Insulet Co. (NASDAQ:PODD)

Ayrshire Capital Management LLC acquired a new position in shares of Insulet Co. (NASDAQ:PODD) in the third quarter, HoldingsChannel reports. The fund acquired 17,077 shares of the medical instruments supplier’s stock, valued at approximately $3,975,000. Insulet makes up about 1.9% of Ayrshire Capital Management LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Shaker Investments LLC OH acquired a new stake in shares of Insulet during the 3rd quarter worth $2,563,000. Exchange Traded Concepts LLC acquired a new stake in Insulet in the 3rd quarter valued at $121,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Insulet by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 600 shares of the medical instruments supplier’s stock valued at $139,000 after purchasing an additional 500 shares in the last quarter. Wedmont Private Capital increased its holdings in Insulet by 3.5% in the 3rd quarter. Wedmont Private Capital now owns 1,433 shares of the medical instruments supplier’s stock valued at $326,000 after purchasing an additional 48 shares in the last quarter. Finally, CWM LLC increased its holdings in Insulet by 3.4% in the 3rd quarter. CWM LLC now owns 3,984 shares of the medical instruments supplier’s stock valued at $927,000 after purchasing an additional 132 shares in the last quarter.

Insulet Stock Performance

Shares of PODD stock opened at $233.10 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.71 and a current ratio of 3.60. Insulet Co. has a one year low of $125.82 and a one year high of $243.98. The company’s 50-day simple moving average is $214.20 and its 200-day simple moving average is $194.85. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 4.34 and a beta of 1.21.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Equities analysts anticipate that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PODD shares. Barclays increased their price target on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. UBS Group raised their target price on Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler raised their target price on Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. BTIG Research lowered their target price on Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Citigroup raised their target price on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $234.60.

Insulet Profile

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.