Revolve Wealth Partners LLC Takes Position in Insulet Co. (NASDAQ:PODD)

Revolve Wealth Partners LLC acquired a new stake in Insulet Co. (NASDAQ:PODD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,579 shares of the medical instruments supplier’s stock, valued at approximately $368,000.

A number of other hedge funds also recently made changes to their positions in the business. Chicago Capital LLC lifted its position in shares of Insulet by 3.4% in the third quarter. Chicago Capital LLC now owns 168,434 shares of the medical instruments supplier’s stock valued at $39,203,000 after buying an additional 5,557 shares during the last quarter. Raymond James & Associates increased its stake in shares of Insulet by 3.8% during the third quarter. Raymond James & Associates now owns 37,456 shares of the medical instruments supplier’s stock worth $8,718,000 after purchasing an additional 1,367 shares during the period. Blue Trust Inc. increased its stake in shares of Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 58 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Insulet by 3.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,453 shares of the medical instruments supplier’s stock worth $1,502,000 after purchasing an additional 188 shares during the period. Finally, Cabot Wealth Management Inc. increased its stake in shares of Insulet by 1.7% during the third quarter. Cabot Wealth Management Inc. now owns 15,983 shares of the medical instruments supplier’s stock worth $3,720,000 after purchasing an additional 262 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PODD. Piper Sandler increased their target price on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Raymond James increased their target price on Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group increased their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Citigroup raised their price objective on Insulet from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group raised their price objective on Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average price target of $242.29.

Insulet Trading Up 3.3 %

PODD opened at $236.59 on Friday. The company has a market cap of $16.59 billion, a P/E ratio of 43.02, a PEG ratio of 4.35 and a beta of 1.21. 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 company’s 50 day moving average is $218.20 and its 200-day moving average is $197.05. Insulet Co. has a 1-year low of $128.68 and a 1-year high of $243.98.

Insulet (NASDAQ:PODD) last announced its quarterly 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). The company had revenue of $488.50 million for the quarter, compared to the consensus estimate of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities research analysts predict that Insulet Co. will post 3.04 earnings per share 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.