Envestnet Asset Management Inc. Acquires 24,892 Shares of Insulet Co. (NASDAQ:PODD)

Envestnet Asset Management Inc. boosted its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,532 shares of the medical instruments supplier's stock after purchasing an additional 24,892 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Insulet worth $49,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PODD. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the 4th quarter worth about $36,000. SRS Capital Advisors Inc. raised its stake in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after buying an additional 56 shares during the period. Friedenthal Financial acquired a new stake in shares of Insulet in the fourth quarter valued at approximately $57,000. TD Private Client Wealth LLC boosted its stake in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after acquiring an additional 56 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Insulet by 1,447.1% during the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after acquiring an additional 246 shares during the last quarter.

Analyst Upgrades and Downgrades

PODD has been the subject of several research reports. Stifel Nicolaus raised their price target on Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. Piper Sandler raised 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. Wells Fargo & Company upped their price target on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Raymond James restated an "outperform" rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Canaccord Genuity Group upped their target price on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Insulet has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

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Insulet Price Performance

Shares of NASDAQ PODD traded down $4.63 during mid-day trading on Wednesday, reaching $251.79. The company had a trading volume of 128,352 shares, compared to its average volume of 714,927. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The business's 50-day simple moving average is $265.46 and its 200 day simple moving average is $260.69. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, research analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares of the company's stock, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

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.