Mather Group LLC. Acquires Shares of 312 Insulet Co. (NASDAQ:PODD)

Mather Group LLC. bought a new stake in shares of Insulet Co. (NASDAQ:PODD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 312 shares of the medical instruments supplier’s stock, valued at approximately $53,000.

A number of other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Insulet by 14.2% in the third quarter. PNC Financial Services Group Inc. now owns 7,623 shares of the medical instruments supplier’s stock valued at $1,216,000 after acquiring an additional 949 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Insulet during the third quarter valued at $327,000. Envestnet Asset Management Inc. increased its position in Insulet by 79.6% in the third quarter. Envestnet Asset Management Inc. now owns 84,697 shares of the medical instruments supplier’s stock worth $13,508,000 after buying an additional 37,545 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Insulet by 47.5% in the third quarter. Hsbc Holdings PLC now owns 116,750 shares of the medical instruments supplier’s stock valued at $18,661,000 after buying an additional 37,594 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Insulet by 53.7% during the 3rd quarter. Acadian Asset Management LLC now owns 3,253 shares of the medical instruments supplier’s stock valued at $516,000 after buying an additional 1,137 shares during the last quarter.

Insulet Price Performance

Shares of Insulet stock opened at $204.10 on Monday. The company’s fifty day simple moving average is $179.97 and its two-hundred day simple moving average is $186.07. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $298.95. The firm has a market cap of $14.30 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. The company has a quick ratio of 2.75, a current ratio of 3.74 and a debt-to-equity ratio of 1.72.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. The company had revenue of $441.70 million during the quarter, compared to analyst estimates of $424.05 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. Insulet’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts expect that Insulet Co. will post 3.11 EPS for the current year.

Analysts Set New Price Targets

PODD has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Redburn Atlantic started coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 price target on the stock. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, May 7th. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a report on Monday, June 10th. Finally, Canaccord Genuity Group boosted their price objective on Insulet from $226.00 to $234.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and a consensus price target of $239.18.

Insider Activity at Insulet

In related news, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction 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 sale, the director now owns 42,586 shares in the company, valued at $7,703,807.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Timothy J. Scannell sold 3,300 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 42,586 shares of the company’s stock, valued at approximately $7,703,807.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark N. Field sold 1,500 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total transaction of $299,940.00. Following the completion of the transaction, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at $2,574,485. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 over the last quarter. 0.47% of the stock is owned by corporate insiders.

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.