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Should You Hold Insulet Corporation (PODD)?

ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth benchmark. On an absolute basis, the strategy gained in nine of the 10 sectors it was invested in the quarter. Industrials, health care, and consumer discretionary sectors were the leading contributors while communication services detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge SMID Cap Growth Strategy highlighted stocks like Insulet Corporation (NASDAQ:PODD) in the Q4 2022 investor letter. Headquartered in Acton, Massachusetts, Insulet Corporation (NASDAQ:PODD) is an insulin delivery systems manufacturer. On March 2, 2023, Insulet Corporation (NASDAQ:PODD) stock closed at $282.95 per share. One-month return of Insulet Corporation (NASDAQ:PODD) was -4.15%, and its shares gained 8.12% of their value over the last 52 weeks. Insulet Corporation (NASDAQ:PODD) has a market capitalization of $19.677 billion.

ClearBridge SMID Cap Growth Strategy made the following comment about Insulet Corporation (NASDAQ:PODD) in its Q4 2022 investor letter:

"Insulet Corporation (NASDAQ:PODD), meanwhile, a medical device manufacturer that develops insulin infusion systems for diabetes patients is increasing share in the market for patch pumps. Insulet beat earnings expectations handily and raised forward guidance due to strength in its U.S. Omnipod pump sales. It also announced EU approval of its Omnipod 5 pump which should launch in mid-2023."

Insulet Corporation (NASDAQ:PODD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Insulet Corporation (NASDAQ:PODD) at the end of the fourth quarter which was 39 in the previous quarter.

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We discussed Insulet Corporation (NASDAQ:PODD) in another article and shared the list of biggest medical device companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.