Sharpepoint LLC Takes Position in Insulet Co. (NASDAQ:PODD)

Sharpepoint LLC acquired a new stake in Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,010 shares of the medical instruments supplier's stock, valued at approximately $2,091,000. Insulet comprises approximately 1.9% of Sharpepoint LLC's investment portfolio, making the stock its 19th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Insulet in the 4th quarter worth approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Insulet by 30.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock worth $2,192,000 after acquiring an additional 1,942 shares during the last quarter. Ayrshire Capital Management LLC lifted its stake in shares of Insulet by 34.6% during the fourth quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier's stock valued at $6,001,000 after acquiring an additional 5,911 shares during the period. Jennison Associates LLC increased its position in Insulet by 21.8% in the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock worth $41,338,000 after purchasing an additional 28,375 shares during the period. Finally, USA Financial Formulas acquired a new stake in Insulet in the fourth quarter worth about $1,234,000.

Insulet Stock Up 5.2 %

NASDAQ PODD traded up $12.89 during trading hours on Thursday, hitting $259.38. 520,762 shares of the company traded hands, compared to its average volume of 714,868. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 3.62 and a beta of 1.30. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The business's 50-day moving average is $261.03 and its 200-day moving average is $261.05. 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 (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. Sell-side analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PODD. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Wells Fargo & Company lifted their price target on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Raymond James restated an "outperform" rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Piper Sandler lifted their target price on Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.06.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction 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 $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.