Sheets Smith Investment Management Buys Shares of 3,132 Insulet Co. (NASDAQ:PODD)

Sheets Smith Investment Management bought a new position in shares of Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,132 shares of the medical instruments supplier's stock, valued at approximately $818,000.

Several other hedge funds also recently added to or reduced their stakes in PODD. Raymond James Financial Inc. purchased a new position in Insulet during the fourth quarter valued at approximately $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Insulet during the 4th quarter worth approximately $53,184,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier's stock valued at $148,091,000 after purchasing an additional 193,839 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier's stock valued at $175,697,000 after purchasing an additional 163,388 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Insulet during the fourth quarter worth $28,422,000.

Insulet Price Performance

Shares of NASDAQ:PODD traded down $1.33 during midday trading on Tuesday, hitting $272.71. The company had a trading volume of 958,553 shares, compared to its average volume of 689,648. The business's 50-day simple moving average is $272.27 and its 200-day simple moving average is $258.19. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 47.10, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. 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 twelve month low of $160.19 and a twelve month high of $289.46.

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

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business'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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PODD shares. Stifel Nicolaus upped their price objective on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their price target on Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Raymond James reiterated an "outperform" rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Royal Bank of Canada assumed coverage on Insulet in a research report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective for the company. Finally, TD Cowen increased their target price on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.06.

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.