IPG Investment Advisors LLC Makes New Investment in Insulet Co. (NASDAQ:PODD)

IPG Investment Advisors LLC bought a new position in Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,732 shares of the medical instruments supplier’s stock, valued at approximately $1,496,000.

Several other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of Insulet by 3.5% in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Insulet by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after purchasing an additional 22,850 shares in the last quarter. Norges Bank acquired a new stake in shares of Insulet in the fourth quarter worth $248,806,000. Artisan Partners Limited Partnership grew its holdings in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after buying an additional 149,524 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Insulet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after buying an additional 10,694 shares in the last quarter.

Insider Activity at Insulet

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 sale, the director now owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Down 0.6 %

Shares of PODD stock opened at $258.75 on Friday. The stock has a 50 day moving average of $271.69 and a 200-day moving average of $258.75. The firm has a market cap of $18.17 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating 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 firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, equities analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on PODD. Royal Bank of Canada started coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. TD Cowen raised their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Raymond James reiterated an “outperform” rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Citigroup lifted their target price on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Piper Sandler lifted their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

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.