Insulet Co. (NASDAQ:PODD) Stock Position Increased by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in Insulet Co. (NASDAQ:PODD) by 20.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,378 shares of the medical instruments supplier’s stock after buying an additional 237 shares during the period. Independent Advisor Alliance’s holdings in Insulet were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in shares of Insulet by 22.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 15,114 shares of the medical instruments supplier’s stock worth $3,946,000 after purchasing an additional 2,736 shares during the period. Taika Capital LP purchased a new position in shares of Insulet during the fourth quarter valued at $361,000. AlphaQuest LLC grew its holdings in shares of Insulet by 12,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,290 shares of the medical instruments supplier’s stock valued at $337,000 after buying an additional 1,280 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Insulet by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,028 shares of the medical instruments supplier’s stock valued at $3,401,000 after buying an additional 59 shares in the last quarter. Finally, EFG Asset Management Americas Corp. grew its holdings in shares of Insulet by 35.3% during the fourth quarter. EFG Asset Management Americas Corp. now owns 8,082 shares of the medical instruments supplier’s stock valued at $2,110,000 after buying an additional 2,107 shares in the last quarter.

Insider Activity at Insulet

In related 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 transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

PODD has been the topic of a number of recent research reports. TD Cowen boosted their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Piper Sandler boosted their target price on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Stifel Nicolaus upped their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Price Performance

Insulet stock opened at $260.47 on Wednesday. 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 company has a market capitalization of $18.29 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The business has a 50 day simple moving average of $272.30 and a 200 day simple moving average of $256.12.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, sell-side analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.