Lingotto Investment Management LLP Invests $3.24 Million in Insulet Co. (NASDAQ:PODD)

Lingotto Investment Management LLP bought a new position in Insulet Co. (NASDAQ:PODD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,069 shares of the medical instruments supplier’s stock, valued at approximately $3,243,000.

Several other hedge funds have also recently modified their holdings of PODD. Wealth Alliance purchased a new stake in Insulet during the second quarter valued at $219,000. Dimensional Fund Advisors LP raised its stake in Insulet by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 146,746 shares of the medical instruments supplier’s stock valued at $29,618,000 after purchasing an additional 13,351 shares in the last quarter. WINTON GROUP Ltd raised its stake in Insulet by 72.7% during the second quarter. WINTON GROUP Ltd now owns 4,534 shares of the medical instruments supplier’s stock valued at $915,000 after purchasing an additional 1,908 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Insulet by 4.9% during the second quarter. Envestnet Asset Management Inc. now owns 87,718 shares of the medical instruments supplier’s stock valued at $17,702,000 after purchasing an additional 4,065 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Insulet by 16.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 20,622 shares of the medical instruments supplier’s stock valued at $4,162,000 after purchasing an additional 2,943 shares in the last quarter.

Insulet Trading Up 0.7 %

NASDAQ PODD opened at $235.54 on Wednesday. The company’s 50-day moving average price is $199.93 and its 200-day moving average price is $186.51. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market cap of $16.51 billion, a PE ratio of 71.38, a PEG ratio of 4.31 and a beta of 1.21. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $243.98.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Equities research analysts forecast that Insulet Co. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Insulet from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Redburn Atlantic assumed coverage on shares of Insulet in a research note on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price on the stock. Barclays increased their target price on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group increased their target price on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, OTR Global reissued a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.21.

Insulet Company 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.