Harvest Fund Management Co. Ltd Buys Shares of 2,311 Insulet Co. (NASDAQ:PODD)

Harvest Fund Management Co. Ltd bought a new stake in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,311 shares of the medical instruments supplier’s stock, valued at approximately $603,000.

Several other hedge funds and other institutional investors have also modified their holdings of PODD. SBI Securities Co. Ltd. acquired a new stake in Insulet during the 4th quarter worth about $36,000. SRS Capital Advisors Inc. boosted its holdings in shares of Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during the period. TD Private Client Wealth LLC grew its position in Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial acquired a new position in Insulet in the 4th quarter valued at approximately $57,000. Finally, Assetmark Inc. lifted its position in Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares in the last quarter.

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Insulet Trading Down 0.2 %

Shares of NASDAQ:PODD opened at $265.39 on Friday. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market cap of $18.64 billion, a P/E ratio of 45.84, a P/E/G ratio of 3.62 and a beta of 1.29. The stock’s 50-day moving average is $272.11 and its 200-day moving average is $256.26.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Equities research analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PODD. Piper Sandler boosted their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wells Fargo & Company upped their target price on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. TD Cowen increased their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.06.

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.