Mirae Asset Global Investments Co. Ltd. Grows Position in Insulet Co. (NASDAQ:PODD)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Insulet Co. (NASDAQ:PODD) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,326 shares of the medical instruments supplier’s stock after purchasing an additional 973 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Insulet were worth $5,290,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

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

Insulet Trading Down 0.7 %

Shares of Insulet stock opened at $173.94 on Tuesday. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $335.91. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 59.77, a PEG ratio of 3.15 and a beta of 0.98. The firm’s 50 day simple moving average is $176.32 and its two-hundred day simple moving average is $178.90.

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