Ithaka Group LLC Acquires 1,389 Shares of Insulet Corporation (NASDAQ:PODD)

Ithaka Group LLC increased its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,424 shares of the medical instruments supplier’s stock after acquiring an additional 1,389 shares during the quarter. Insulet comprises 1.6% of Ithaka Group LLC’s portfolio, making the stock its 23rd biggest holding. Ithaka Group LLC’s holdings in Insulet were worth $7,990,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its stake in Insulet by 20.5% in the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock valued at $192,881,000 after buying an additional 125,710 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Insulet by 27,298.6% in the first 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 period. Federated Hermes Inc. boosted its stake in shares of Insulet by 23.4% in the first quarter. Federated Hermes Inc. now owns 632,869 shares of the medical instruments supplier’s stock valued at $166,198,000 after buying an additional 120,197 shares during the period. Marshall Wace LLP lifted its holdings 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 worth $127,015,000 after acquiring an additional 111,119 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Insulet by 42.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 289,507 shares of the medical instruments supplier’s stock worth $75,588,000 after acquiring an additional 86,505 shares in 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 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by corporate insiders.

Insulet Trading Up 1.0%

Insulet stock opened at $287.77 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The stock has a market cap of $20.25 billion, a P/E ratio of 51.76, a PEG ratio of 2.54 and a beta of 1.35. The firm’s fifty day moving average price is $301.71 and its 200-day moving average price is $282.64.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PODD. Wall Street Zen lowered Insulet from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Truist Financial initiated coverage on Insulet in a report on Monday, June 16th. They set a “buy” rating and a $365.00 price target on the stock. Barclays raised their price objective on shares of Insulet from $234.00 to $266.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of Insulet in a research note on Friday, May 16th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price for the company in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.00.

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.