Insulet Corporation (NASDAQ:PODD) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC grew its stake in shares of Insulet Corporation (NASDAQ:PODD) by 48.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,280 shares of the medical instruments supplier’s stock after acquiring an additional 749 shares during the period. HB Wealth Management LLC’s holdings in Insulet were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock valued at $463,347,000 after acquiring an additional 40,566 shares during the last quarter. Northern Trust Corp lifted its position in shares of Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after acquiring an additional 125,710 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Insulet by 27,298.6% during the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after acquiring an additional 661,717 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Insulet by 24.4% during the 4th quarter. Federated Hermes Inc. now owns 512,672 shares of the medical instruments supplier’s stock valued at $133,843,000 after acquiring an additional 100,436 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Insulet by 29.6% during the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier’s stock valued at $127,015,000 after acquiring an additional 111,119 shares during the last quarter.

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was 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 owned 23,180 shares of the company’s stock, valued at $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PODD shares. Raymond James Financial reiterated an “outperform” rating and set a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Truist Financial started coverage on Insulet in a report on Monday, June 16th. They issued a “buy” rating and a $365.00 target price for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Insulet in a report on Friday, May 16th. The Goldman Sachs Group started coverage on Insulet in a report on Friday, May 30th. They issued a “buy” rating and a $380.00 target price for the company. Finally, Barclays increased their target price on Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.00.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $288.40 on Friday. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The business has a fifty day simple moving average of $303.12 and a 200 day simple moving average of $282.24. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 51.87, a P/E/G ratio of 2.66 and a beta of 1.35.

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