Artisan Partners Limited Partnership Raises Position in Insulet Co. (NASDAQ:PODD)

Artisan Partners Limited Partnership grew its holdings in Insulet Co. (NASDAQ:PODD) by 24.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 770,188 shares of the medical instruments supplier’s stock after buying an additional 149,524 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Insulet were worth $201,073,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Insulet during the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. increased its holdings in shares of Insulet by 43.1% in the 4th 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 in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares during the last quarter. Friedenthal Financial bought a new position in shares of Insulet during the fourth quarter valued at $57,000. Finally, Assetmark Inc. boosted its position in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 246 shares during the last quarter.

Insulet Stock Down 2.9 %

Shares of PODD stock opened at $264.88 on Thursday. The company’s fifty day simple moving average is $272.28 and its two-hundred day simple moving average is $258.24. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The stock has a market cap of $18.60 billion, a P/E ratio of 45.75, a PEG ratio of 3.62 and a beta of 1.29. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $582.02 million. Analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

PODD has been the topic of several research analyst reports. TD Cowen upped their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Piper Sandler boosted their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus raised their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Raymond James reiterated an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Canaccord Genuity Group raised their target price on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insider Buying and Selling

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the sale, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company 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.