Sei Investments Co. Buys 12,041 Shares of Insulet Co. (NASDAQ:PODD)

Sei Investments Co. increased its position in Insulet Co. (NASDAQ:PODD - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,166 shares of the medical instruments supplier's stock after acquiring an additional 12,041 shares during the period. Sei Investments Co. owned about 0.10% of Insulet worth $18,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Insulet in the fourth quarter worth $69,433,000. Alecta Tjanstepension Omsesidigt purchased a new position in Insulet in the 4th quarter worth about $53,184,000. Proficio Capital Partners LLC purchased a new position in Insulet in the 4th quarter worth about $28,422,000. Baillie Gifford & Co. lifted its stake in Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after acquiring an additional 79,982 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Insulet during the 3rd quarter valued at about $16,342,000.

Insulet Price Performance

Shares of NASDAQ PODD traded up $0.57 during mid-day trading on Tuesday, reaching $263.18. The company's stock had a trading volume of 564,498 shares, compared to its average volume of 706,371. 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 52 week low of $160.19 and a 52 week high of $289.46. The stock has a fifty day moving average of $271.17 and a two-hundred day moving average of $259.40. The firm has a market capitalization of $18.48 billion, a PE ratio of 45.45, a P/E/G ratio of 3.62 and a beta of 1.29.

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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 the consensus estimate of $1.00 by $0.15. The business 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, sell-side analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling at Insulet

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Stifel Nicolaus increased 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. Canaccord Genuity Group lifted their price objective on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. TD Cowen boosted their price target on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Piper Sandler increased their price objective 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 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

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.