Sequoia Financial Advisors LLC Acquires New Shares in Insulet Co. (NASDAQ:PODD)

Sequoia Financial Advisors LLC bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,502 shares of the medical instruments supplier’s stock, valued at approximately $543,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Insulet by 5.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,365 shares of the medical instruments supplier’s stock valued at $896,000 after purchasing an additional 187 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Insulet in the first quarter valued at approximately $1,140,000. Synovus Financial Corp grew its stake in shares of Insulet by 12.4% during the first quarter. Synovus Financial Corp now owns 3,716 shares of the medical instruments supplier’s stock worth $989,000 after buying an additional 410 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Insulet by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 96,390 shares of the medical instruments supplier’s stock worth $25,676,000 after buying an additional 1,232 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Insulet by 91.0% in the 1st quarter. Vontobel Holding Ltd. now owns 3,888 shares of the medical instruments supplier’s stock valued at $1,026,000 after acquiring an additional 1,852 shares during the last quarter.

Insider Transactions at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of Insulet 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 completion of the sale, the director now 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 SEC, which is accessible through the SEC website. 0.80% of the stock is owned by insiders.

Insulet Trading Down 0.7 %

NASDAQ PODD opened at $172.71 on Wednesday. Insulet Co. has a one year low of $125.82 and a one year high of $335.91. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The business has a 50 day simple moving average of $175.79 and a 200 day simple moving average of $178.99. The stock has a market capitalization of $12.09 billion, a P/E ratio of 59.35, a P/E/G ratio of 3.15 and a beta of 0.98.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. The business had revenue of $509.80 million during the quarter, compared to analysts’ expectations of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. Research analysts expect that Insulet Co. will post 3.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PODD. Robert W. Baird raised Insulet from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $180.00 to $238.00 in a report on Thursday, December 21st. Barclays dropped their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Piper Sandler reduced 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. raised their price target on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and a consensus target price of $250.33.

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.