Insulet Co. (NASDAQ:PODD) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN increased its stake in Insulet Co. (NASDAQ:PODD) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 880 shares of the medical instruments supplier’s stock after acquiring an additional 55 shares during the period. OLD National Bancorp IN’s holdings in Insulet were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PODD. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet in the fourth quarter valued at $36,000. Itau Unibanco Holding S.A. purchased a new position in Insulet in the fourth quarter valued at $42,000. SRS Capital Advisors Inc. increased its holdings in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after buying an additional 56 shares during the last quarter. Assetmark Inc. increased its holdings in Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 246 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in Insulet by 135.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 162 shares during 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 that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. The trade was a 36.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the completion of the sale, the senior vice president now directly owns 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PODD has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a report on Friday, May 16th. The Goldman Sachs Group initiated coverage on Insulet in a report on Friday, May 30th. They issued a “buy” rating and a $380.00 target price on the stock. Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Wall Street Zen raised Insulet from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.41.

Insulet Stock Performance

Shares of PODD stock opened at $298.73 on Wednesday. The stock has a market capitalization of $21.02 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37. Insulet Co. has a 52-week low of $173.00 and a 52-week high of $329.33. The stock’s 50-day moving average price is $283.91 and its 200 day moving average price is $274.24. 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 (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. The firm had revenue of $569.00 million for the quarter, compared to analysts’ expectations of $543.20 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, equities research analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

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.