1,103 Shares in Insulet Co. (NASDAQ:PODD) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,103 shares of the medical instruments supplier’s stock, valued at approximately $288,000.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Insulet during the fourth quarter worth approximately $36,000. Venturi Wealth Management LLC boosted its stake in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 133 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in 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 buying an additional 56 shares during the last quarter. Friedenthal Financial acquired a new position in Insulet during the fourth quarter worth $57,000. Finally, TD Private Client Wealth LLC boosted its stake 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 worth $53,000 after buying an additional 56 shares during the last quarter.

Insulet Price Performance

PODD opened at $270.81 on Thursday. The stock’s 50-day moving average price is $274.48 and its 200 day moving average price is $251.93. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (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 firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. As a group, sell-side analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PODD shares. TD Cowen boosted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Morgan Stanley boosted their price objective on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Canaccord Genuity Group boosted their price objective on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. BTIG Research boosted their price objective on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler upped their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and an average price target of $289.06.

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.