Sax Wealth Advisors LLC Invests $387,000 in Insulet Co. (NASDAQ:PODD)

Sax Wealth Advisors LLC purchased a new position in Insulet Co. (NASDAQ:PODD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,916 shares of the medical instruments supplier’s stock, valued at approximately $387,000.

Several other large investors have also recently made changes to their positions in PODD. Raymond James Financial Services Advisors Inc. raised its position in shares of Insulet by 26.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,284 shares of the medical instruments supplier’s stock worth $930,000 after acquiring an additional 884 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Insulet by 4.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,326 shares of the medical instruments supplier’s stock worth $5,290,000 after buying an additional 973 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Insulet by 195.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,098 shares of the medical instruments supplier’s stock worth $672,000 after buying an additional 2,049 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in Insulet during the 4th quarter worth $241,000. Finally, Dearborn Partners LLC purchased a new position in Insulet during the 4th quarter worth $217,000.

Insulet Stock Performance

Shares of PODD traded down $17.60 during mid-day trading on Friday, reaching $182.19. The company had a trading volume of 2,129,777 shares, compared to its average volume of 672,840. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $239.70. The company has a quick ratio of 2.75, a current ratio of 3.74 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $12.76 billion, a P/E ratio of 55.21, a PEG ratio of 3.53 and a beta of 1.16. The stock has a 50 day moving average of $196.26 and a two-hundred day moving average of $183.90.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $488.50 million during the quarter, compared to analyst estimates of $488.00 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. On average, analysts expect that Insulet Co. will post 3.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on PODD shares. UBS Group boosted their target price on Insulet from $211.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group boosted their target price on Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday, May 7th. Barclays dropped their target price on Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Finally, Raymond James dropped their target price on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.88.

Insider Buying and Selling

In related news, SVP Mark N. Field sold 1,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the transaction, the senior vice president now owns 12,875 shares of the company’s stock, valued at approximately $2,574,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insulet news, SVP Mark N. Field sold 2,131 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total transaction of $405,806.33. Following the completion of the transaction, the senior vice president now owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark N. Field sold 1,500 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at approximately $2,574,485. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,931 shares of company stock valued at $2,636,286. 0.47% of the stock is owned by company insiders.

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.