Graypoint LLC Takes Position in Insulet Co. (NASDAQ:PODD)

Graypoint LLC acquired a new position in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,018 shares of the medical instruments supplier’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Insulet by 1.4% in the first quarter. HighTower Advisors LLC now owns 2,968 shares of the medical instruments supplier’s stock worth $948,000 after buying an additional 41 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Insulet by 7.7% in the second 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. Cresset Asset Management LLC boosted its stake in Insulet by 6.6% in the first quarter. Cresset Asset Management LLC now owns 1,102 shares of the medical instruments supplier’s stock worth $293,000 after buying an additional 68 shares in the last quarter. Captrust Financial Advisors boosted its stake in Insulet by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 2,396 shares of the medical instruments supplier’s stock worth $705,000 after buying an additional 75 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Insulet by 1.3% in the first quarter. Guggenheim Capital LLC now owns 5,946 shares of the medical instruments supplier’s stock worth $1,584,000 after buying an additional 76 shares in the last quarter.

Insider Activity at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of Insulet 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 completion of the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PODD has been the subject of several research reports. Stifel Nicolaus upped their target price on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. Barclays dropped their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Robert W. Baird raised Insulet from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $180.00 to $238.00 in a research note on Thursday, December 21st. Piper Sandler dropped their price objective on 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 Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.33.

Insulet Stock Performance

Shares of Insulet stock opened at $173.94 on Tuesday. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $12.18 billion, a P/E ratio of 59.77, a P/E/G ratio of 3.15 and a beta of 0.98. The business has a fifty day simple moving average of $176.32 and a two-hundred day simple moving average of $178.90. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $335.91.

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

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.