Steward Partners Investment Advisory LLC Raises Stock Holdings in Insulet Co. (NASDAQ:PODD)

Steward Partners Investment Advisory LLC boosted its holdings in Insulet Co. (NASDAQ:PODD) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,050 shares of the medical instruments supplier’s stock after purchasing an additional 50 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Insulet were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PODD. SBI Securities Co. Ltd. bought a new position in Insulet during the 4th quarter worth approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after buying an additional 1,942 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Insulet by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock worth $81,719,000 after buying an additional 3,113 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Insulet by 86.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after buying an additional 3,623 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Insulet by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after buying an additional 8,301 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Citigroup increased their target price on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Piper Sandler raised their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Stifel Nicolaus raised their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group raised their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is owned by insiders.

Insulet Stock Up 4.4 %

PODD opened at $255.44 on Friday. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market cap of $17.94 billion, a P/E ratio of 44.12, a P/E/G ratio of 3.62 and a beta of 1.29. The stock’s 50 day moving average price is $272.54 and its 200 day moving average price is $254.53.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. As a group, research analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

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.