Insulet Corporation $PODD Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 723,363 shares of the medical instruments supplier’s stock after purchasing an additional 90,494 shares during the period. Federated Hermes Inc.’s holdings in Insulet were worth $227,266,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PODD. Vanguard Group Inc. grew its holdings in shares of Insulet by 0.5% in the second quarter. Vanguard Group Inc. now owns 8,708,355 shares of the medical instruments supplier’s stock valued at $2,735,991,000 after purchasing an additional 39,403 shares in the last quarter. Geode Capital Management LLC boosted its position in Insulet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after buying an additional 58,309 shares during the period. American Century Companies Inc. boosted its position in Insulet by 34.8% in the 1st quarter. American Century Companies Inc. now owns 1,152,606 shares of the medical instruments supplier’s stock valued at $302,686,000 after buying an additional 297,734 shares during the period. Groupama Asset Managment grew its stake in shares of Insulet by 0.4% in the first quarter. Groupama Asset Managment now owns 1,053,759 shares of the medical instruments supplier’s stock worth $276,728,000 after acquiring an additional 3,759 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Insulet during the second quarter worth $324,689,000.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $304.49 on Friday. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 2.18. The firm has a market capitalization of $21.42 billion, a P/E ratio of 88.26, a P/E/G ratio of 2.14 and a beta of 1.37. The company’s fifty day moving average price is $320.31 and its 200 day moving average price is $315.85.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. The firm had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. As a group, sell-side analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PODD shares. Oppenheimer lifted their target price on Insulet from $324.00 to $365.00 and gave the company an “outperform” rating in a report on Monday, September 8th. UBS Group raised Insulet from a “neutral” rating to a “buy” rating and increased their price target for the company from $355.00 to $400.00 in a research report on Wednesday, November 19th. Canaccord Genuity Group lifted their price objective on Insulet from $428.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. boosted their price objective on Insulet from $340.00 to $415.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Zacks Research upgraded shares of Insulet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $379.65.

Insider Activity at Insulet

In other news, SVP Laetitia Cousin sold 797 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $348.81, for a total transaction of $278,001.57. Following the transaction, the senior vice president directly owned 3,890 shares in the company, valued at approximately $1,356,870.90. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prem Singh sold 687 shares of Insulet stock in a transaction on Monday, September 8th. The shares were sold at an average price of $347.49, for a total transaction of $238,725.63. Following the completion of the transaction, the senior vice president directly owned 3,456 shares in the company, valued at $1,200,925.44. The trade was a 16.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.39% of the stock is currently owned by corporate insiders.

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.