Praxis Investment Management Inc. Grows Position in Insulet Corporation (NASDAQ:PODD)

Praxis Investment Management Inc. boosted its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 101.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,120 shares of the medical instruments supplier’s stock after acquiring an additional 1,070 shares during the period. Praxis Investment Management Inc.’s holdings in Insulet were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet in the 4th quarter worth approximately $36,000. Arrowstreet Capital Limited Partnership purchased a new stake in Insulet during the fourth quarter worth $9,822,000. Farther Finance Advisors LLC boosted its position in Insulet by 85.1% during the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier’s stock valued at $236,000 after acquiring an additional 412 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Insulet by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier’s stock valued at $274,000 after acquiring an additional 50 shares in the last quarter. Finally, Keybank National Association OH purchased a new position in shares of Insulet in the 4th quarter valued at $219,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PODD shares. Wells Fargo & Company set a $322.00 price objective on Insulet in a research note on Monday, April 28th. Wall Street Zen lowered shares of Insulet from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Royal Bank Of Canada assumed coverage on shares of Insulet in a research report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price objective on the stock. Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They set a “buy” rating and a $365.00 price objective for the company. Finally, Raymond James Financial restated an “outperform” rating and issued a $360.00 target price (up from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.00.

Insiders Place Their Bets

In other news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction 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 sale, the senior vice president now owns 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business’s 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 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 disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Insulet Stock Performance

Shares of PODD opened at $303.15 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. The stock has a 50-day moving average of $291.86 and a two-hundred day moving average of $276.25. The stock has a market cap of $21.34 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.71 and a beta of 1.37. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.21. The firm had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, research analysts predict that Insulet Corporation will post 3.92 EPS for the current 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.