Proficio Capital Partners LLC Buys Shares of 108,866 Insulet Co. (NASDAQ:PODD)

Proficio Capital Partners LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 108,866 shares of the medical instruments supplier's stock, valued at approximately $28,422,000. Proficio Capital Partners LLC owned about 0.16% of Insulet as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc increased its position in Insulet by 9.1% during the 4th quarter. Atria Investments Inc now owns 6,035 shares of the medical instruments supplier's stock worth $1,576,000 after purchasing an additional 502 shares in the last quarter. Assetmark Inc. increased its position in 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 purchasing an additional 246 shares in the last quarter. Keybank National Association OH purchased a new stake in Insulet during the 4th quarter worth about $219,000. Charles Schwab Investment Management Inc. increased its position in Insulet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock worth $168,902,000 after purchasing an additional 10,694 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Insulet by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock worth $274,000 after purchasing an additional 50 shares in the last quarter.

Remove Ads

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 directly owns 11,383 shares of the company's stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PODD. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price objective on Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Citigroup lifted their price target on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Raymond James restated an "outperform" rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Insulet has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

Insulet Trading Down 0.4 %

Shares of NASDAQ:PODD traded down $1.16 during trading on Tuesday, reaching $260.47. 738,438 shares of the stock were exchanged, compared to its average volume of 690,578. 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 12-month low of $160.19 and a 12-month high of $289.46. The firm has a market cap of $18.29 billion, a price-to-earnings ratio of 44.99, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The firm's 50-day moving average price is $272.40 and its 200 day moving average price is $255.72.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, sell-side analysts anticipate 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.