Bleakley Financial Group LLC Makes New Investment in Insulet Co. (NASDAQ:PODD)

Bleakley Financial Group LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,112 shares of the medical instruments supplier’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Manhattan Co. bought a new stake in shares of Insulet during the 4th quarter worth about $35,000. Wolff Wiese Magana LLC raised its position in shares of Insulet by 2,680.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Insulet by 251.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 123 shares in the last quarter. Allworth Financial LP raised its position in shares of Insulet by 104.5% during the 3rd quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new stake in shares of Insulet during the 3rd quarter worth about $31,000.

Insulet Stock Performance

Insulet stock opened at $173.94 on Tuesday. The firm’s 50 day simple moving average is $176.32 and its 200-day simple moving average is $178.90. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The company has a market cap of $12.18 billion, a P/E ratio of 59.77, a price-to-earnings-growth ratio of 3.15 and a beta of 0.98. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The firm had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis. As a group, equities research analysts predict that Insulet Co. will post 3.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on PODD shares. Stifel Nicolaus boosted their target price on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. Piper Sandler dropped their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Barclays dropped their target price on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Finally, Robert W. Baird upgraded shares of Insulet from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $180.00 to $238.00 in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.33.

Insider Activity at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by insiders.

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.