Intech Investment Management LLC Buys 2,111 Shares of Insulet Co. (NASDAQ:PODD)

Intech Investment Management LLC boosted its position in Insulet Co. (NASDAQ:PODD - Free Report) by 219.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,073 shares of the medical instruments supplier's stock after purchasing an additional 2,111 shares during the period. Intech Investment Management LLC's holdings in Insulet were worth $802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Insulet during the fourth quarter valued at about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock valued at $2,192,000 after acquiring an additional 1,942 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Insulet by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier's stock valued at $81,719,000 after purchasing an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock worth $1,822,000 after purchasing an additional 3,623 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Insulet by 5.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier's stock worth $35,708,000 after purchasing an additional 8,301 shares in the last quarter.

Remove Ads

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their target price on Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Canaccord Genuity Group upped their target price on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $292.06.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Insulet Stock Down 0.9 %

Shares of NASDAQ:PODD traded down $2.55 during midday trading on Tuesday, hitting $271.50. 316,329 shares of the stock were exchanged, compared to its average volume of 690,203. The business's fifty day simple moving average is $272.16 and its two-hundred day simple moving average is $257.78. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a market capitalization of $19.07 billion, a PE ratio of 46.97, a P/E/G ratio of 3.62 and a beta of 1.29.

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 for the quarter, topping analysts' consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, research analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

About Insulet

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.