Los Angeles Capital Management LLC Raises Holdings in Insulet Co. (NASDAQ:PODD)

Los Angeles Capital Management LLC boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 462.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,654 shares of the medical instruments supplier’s stock after purchasing an additional 246,364 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.43% of Insulet worth $51,361,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Moody National Bank Trust Division increased its holdings in Insulet by 2.6% during the 1st quarter. Moody National Bank Trust Division now owns 3,439 shares of the medical instruments supplier’s stock worth $589,000 after purchasing an additional 87 shares during the period. PNC Financial Services Group Inc. increased its holdings in Insulet by 37.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,479 shares of the medical instruments supplier’s stock worth $2,274,000 after purchasing an additional 2,856 shares during the period. Vanguard Group Inc. increased its holdings in Insulet by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock worth $1,742,264,000 after purchasing an additional 29,387 shares during the period. SageView Advisory Group LLC purchased a new position in shares of Insulet in the 4th quarter valued at about $236,000. Finally, Congress Asset Management Co. MA increased its holdings in shares of Insulet by 100.7% in the 4th quarter. Congress Asset Management Co. MA now owns 30,169 shares of the medical instruments supplier’s stock valued at $6,546,000 after acquiring an additional 15,134 shares during the last quarter.

Insulet Stock Down 1.0 %

PODD opened at $196.40 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The business has a 50 day simple moving average of $178.62 and a 200-day simple moving average of $185.89. The stock has a market capitalization of $13.76 billion, a P/E ratio of 59.52, a P/E/G ratio of 3.54 and a beta of 1.14. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $298.95.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 EPS for the quarter, beating the consensus estimate of $0.39 by $0.34. The business had revenue of $441.70 million during the quarter, compared to analysts’ expectations of $424.05 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. On average, equities analysts anticipate that Insulet Co. will post 3.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PODD. Piper Sandler dropped their price objective on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Barclays decreased their target price on Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. Jefferies Financial Group upped their target price on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Redburn Atlantic started coverage on Insulet in a research report on Thursday, May 30th. They issued a “buy” rating and a $235.00 target price for the company. Finally, Raymond James decreased their target price on Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.18.

Insider Activity

In related news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total value of $596,970.00. Following the completion of the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at $7,703,807.40. The disclosure for this sale can be found here. Insiders sold 13,931 shares of company stock valued at $2,636,286 in the last three months. 0.47% of the stock is currently 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.