Raymond James & Associates Decreases Stake in Insulet Co. (NASDAQ:PODD)

Raymond James & Associates lowered its stake in Insulet Co. (NASDAQ:PODD) by 8.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,089 shares of the medical instruments supplier’s stock after selling 3,151 shares during the quarter. Raymond James & Associates owned 0.05% of Insulet worth $7,283,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Insulet during the 4th quarter valued at $55,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Insulet during the fourth quarter worth about $288,000. Truist Financial Corp grew its stake in shares of Insulet by 154.3% in the fourth quarter. Truist Financial Corp now owns 4,651 shares of the medical instruments supplier’s stock worth $1,009,000 after purchasing an additional 2,822 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Insulet in the fourth quarter worth about $86,000. Finally, Van ECK Associates Corp lifted its holdings in Insulet by 2.8% in the 4th quarter. Van ECK Associates Corp now owns 3,718 shares of the medical instruments supplier’s stock worth $807,000 after buying an additional 103 shares during the period.

Insulet Trading Up 6.6 %

NASDAQ PODD opened at $192.58 on Wednesday. The stock’s fifty day moving average price is $195.34 and its 200-day moving average price is $183.24. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36. The stock has a market cap of $13.49 billion, a P/E ratio of 58.36, a P/E/G ratio of 3.62 and a beta of 1.16. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $223.56.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that Insulet Co. will post 3.04 EPS for the current fiscal year.

Insider Activity at Insulet

In related news, SVP Mark N. Field sold 2,131 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the transaction, the senior vice president now directly owns 14,375 shares of the company’s stock, valued at approximately $2,737,431.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Mark N. Field sold 2,131 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the completion of the transaction, the senior vice president now owns 14,375 shares in the company, valued at $2,737,431.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark N. Field sold 1,500 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the sale, the senior vice president now directly owns 12,875 shares in the company, valued at $2,574,485. The disclosure for this sale can be found here. Insiders sold 10,631 shares of company stock valued at $2,039,316 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PODD. BTIG Research reduced their target price on Insulet from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group upped their price objective on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. OTR Global reissued a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Finally, Redburn Atlantic started coverage on Insulet in a research report on Thursday, May 30th. They set a “buy” rating and a $235.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $225.29.

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.