NewEdge Wealth LLC Acquires New Position in Insulet Co. (NASDAQ:PODD)

NewEdge Wealth LLC acquired a new stake in Insulet Co. (NASDAQ:PODD) in the 4th quarter, Holdings Channel reports. The fund acquired 994 shares of the medical instruments supplier’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. HighTower Advisors LLC raised its position in shares of Insulet by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 2,968 shares of the medical instruments supplier’s stock valued at $948,000 after purchasing an additional 41 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Insulet by 7.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $214,000 after purchasing an additional 53 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Insulet by 6.6% in the 1st quarter. Cresset Asset Management LLC now owns 1,102 shares of the medical instruments supplier’s stock valued at $293,000 after purchasing an additional 68 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Insulet by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 2,396 shares of the medical instruments supplier’s stock valued at $705,000 after purchasing an additional 75 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Insulet by 1.3% in the 1st quarter. Guggenheim Capital LLC now owns 5,946 shares of the medical instruments supplier’s stock valued at $1,584,000 after purchasing an additional 76 shares during the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $164.73 on Friday. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 2.99 and a beta of 0.98. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $335.91. The firm’s 50 day simple moving average is $174.50 and its 200-day simple moving average is $178.80. 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 released its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (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 analysts’ expectations of $461.26 million. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Analysts expect that Insulet Co. will post 3.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Barclays cut their price target 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. Stifel Nicolaus increased their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Robert W. Baird upgraded shares of Insulet from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $180.00 to $238.00 in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and a consensus target price of $243.21.

Insider Activity 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Insulet Company 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.