First Trust Direct Indexing L.P. Invests $305,000 in Insulet Co. (NASDAQ:PODD)

First Trust Direct Indexing L.P. bought a new stake in Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,407 shares of the medical instruments supplier’s stock, valued at approximately $305,000.

Several other hedge funds have also bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its holdings in shares of Insulet by 251.0% during the third quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 123 shares during the period. Allworth Financial LP boosted its holdings in Insulet by 104.5% in the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake 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 valued at $30,000 after purchasing an additional 134 shares in the last quarter. BluePath Capital Management LLC bought a new position in Insulet in the third quarter worth about $31,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Insulet by 64.1% during the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after acquiring an additional 75 shares during the period.

Insulet Trading Up 4.5 %

Shares of Insulet stock opened at $184.28 on Wednesday. The firm has a fifty day moving average price of $170.08 and a 200 day moving average price of $181.70. The stock has a market cap of $12.90 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. 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 Co. has a 1 year low of $125.82 and a 1 year high of $331.65.

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

Wall Street Analyst Weigh In

Several research firms have commented on PODD. Stifel Nicolaus boosted their target price on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a report on Monday, February 5th. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday. Barclays decreased their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Piper Sandler lowered their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.47% of the company’s stock.

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.