Driehaus Capital Management LLC Has $26.08 Million Holdings in Insulet Co. (NASDAQ:PODD)

Driehaus Capital Management LLC grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 120.3% in the 4th quarter, Holdings Channel reports. The fund owned 99,886 shares of the medical instruments supplier’s stock after buying an additional 54,539 shares during the period. Driehaus Capital Management LLC’s holdings in Insulet were worth $26,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PODD. Wilmington Savings Fund Society FSB acquired a new position in Insulet during the 3rd quarter worth approximately $114,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Insulet during the third quarter worth $202,000. Principal Financial Group Inc. increased its holdings in shares of Insulet by 4.0% during the third quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock worth $20,065,000 after buying an additional 3,355 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Insulet by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 6,078 shares of the medical instruments supplier’s stock valued at $1,598,000 after acquiring an additional 359 shares during the last quarter. Finally, Graypoint LLC boosted its holdings in shares of Insulet by 5.3% during the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after acquiring an additional 47 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wolfe Research cut Insulet from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 29th. Barclays upped their price objective on Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Citigroup lifted their target price on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus target price of $299.81.

Insulet Stock Performance

Shares of Insulet stock opened at $257.00 on Friday. The company has a market cap of $18.08 billion, a P/E ratio of 44.39, a PEG ratio of 3.62 and a beta of 1.26. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $256.64 and a two-hundred day moving average price of $262.99. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s revenue was up 28.8% on a year-over-year basis. As a group, analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.