Insulet Co. (NASDAQ:PODD) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Insulet Co. (NASDAQ:PODD) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512,672 shares of the medical instruments supplier’s stock after purchasing an additional 100,436 shares during the quarter. Federated Hermes Inc. owned 0.73% of Insulet worth $133,843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in Insulet by 4.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,092 shares of the medical instruments supplier’s stock valued at $285,000 after buying an additional 51 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Insulet by 15.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 188,532 shares of the medical instruments supplier’s stock valued at $49,220,000 after purchasing an additional 24,892 shares during the last quarter. Katamaran Capital LLP purchased a new position in shares of Insulet in the fourth quarter worth approximately $444,000. Aviva PLC raised its stake in Insulet by 164.5% during the 4th quarter. Aviva PLC now owns 42,276 shares of the medical instruments supplier’s stock valued at $11,037,000 after purchasing an additional 26,294 shares during the period. Finally, Rhenman & Partners Asset Management AB lifted its stake in Insulet by 42.5% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 57,000 shares of the medical instruments supplier’s stock worth $14,881,000 after acquiring an additional 17,000 shares in the last quarter.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

PODD has been the topic of a number of analyst reports. TD Cowen increased their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Piper Sandler upped their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup lifted their target price on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Raymond James reissued an “outperform” rating and issued a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Price Performance

NASDAQ:PODD opened at $245.26 on Friday. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a market cap of $17.22 billion, a P/E ratio of 42.36, a P/E/G ratio of 3.62 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock’s 50-day simple moving average is $269.86 and its 200 day simple moving average is $259.70.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. As a group, sell-side analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.