Federated Hermes Inc. Boosts Stake in Insulet Co. (NASDAQ:PODD)

Federated Hermes Inc. boosted its stake in Insulet Co. (NASDAQ:PODD) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 185,347 shares of the medical instruments supplier’s stock after purchasing an additional 10,883 shares during the period. Federated Hermes Inc. owned about 0.27% of Insulet worth $40,217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PODD. HighTower Advisors LLC increased its stake in Insulet by 1.4% during the first quarter. HighTower Advisors LLC now owns 2,968 shares of the medical instruments supplier’s stock worth $948,000 after purchasing an additional 41 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Insulet by 7.7% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 743 shares of the medical instruments supplier’s stock worth $214,000 after buying an additional 53 shares in the last quarter. Consolidated Portfolio Review Corp grew its stake in shares of Insulet by 1.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 3,713 shares of the medical instruments supplier’s stock worth $806,000 after acquiring an additional 57 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Insulet by 6.6% during the first quarter. Cresset Asset Management LLC now owns 1,102 shares of the medical instruments supplier’s stock worth $293,000 after acquiring an additional 68 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Insulet by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 2,396 shares of the medical instruments supplier’s stock worth $705,000 after acquiring an additional 75 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on PODD shares. Barclays decreased their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Stifel Nicolaus upped their target price on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. Piper Sandler decreased their price target on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average price target of $243.21.

Insulet Stock Performance

NASDAQ:PODD opened at $166.25 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 57.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.98. The firm’s fifty day moving average price is $173.97 and its 200 day moving average price is $178.81. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $335.91.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The business had revenue of $509.80 million during the quarter, compared to the consensus estimate of $461.26 million. During the same period in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts expect that Insulet Co. will post 3.08 EPS for the current year.

Insider Transactions at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the sale, the director now owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

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.