Artisan Partners Limited Partnership Grows Position in Insulet Co. (NASDAQ:PODD)

Artisan Partners Limited Partnership lifted its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 24.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 770,188 shares of the medical instruments supplier's stock after purchasing an additional 149,524 shares during the quarter. Artisan Partners Limited Partnership owned about 1.10% of Insulet worth $201,073,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PODD. Integrated Wealth Concepts LLC increased its holdings in shares of Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier's stock valued at $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC increased its holdings in Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after buying an additional 42 shares during the period. Nisa Investment Advisors LLC raised its position in Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after buying an additional 43 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier's stock valued at $484,000 after acquiring an additional 47 shares during the period. Finally, Graypoint LLC boosted its holdings in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 47 shares during the last quarter.

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Wall Street Analyst Weigh In

Several equities research analysts have commented on PODD shares. TD Cowen upped their price target on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their target price on shares of Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, December 12th. Royal Bank of Canada began coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Piper Sandler increased their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $292.06.

Insiders Place Their Bets

In related news, EVP Eric Benjamin sold 12,394 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company's stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Insulet Price Performance

PODD traded up $1.35 on Monday, reaching $260.10. 180,932 shares of the company's stock were exchanged, compared to its average volume of 704,934. The stock has a market cap of $18.27 billion, a PE ratio of 44.92, a P/E/G ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The stock's fifty day moving average price is $271.69 and its 200-day moving average price is $258.97.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Sell-side analysts expect that Insulet Co. will post 3.92 EPS for the current 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.