Adams Diversified Equity Fund Inc. Invests $10.69 Million in Insulet Corporation (NASDAQ:PODD)

Adams Diversified Equity Fund Inc. acquired a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 40,700 shares of the medical instruments supplier's stock, valued at approximately $10,688,000. Adams Diversified Equity Fund Inc. owned 0.06% of Insulet as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PODD. Geode Capital Management LLC boosted its holdings in shares of Insulet by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock worth $463,347,000 after acquiring an additional 40,566 shares during the period. Norges Bank purchased a new stake in Insulet during the 4th quarter worth about $248,806,000. Artisan Partners Limited Partnership lifted its holdings in Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Northern Trust Corp boosted its stake in Insulet by 20.5% in the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after purchasing an additional 125,710 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Insulet by 27,298.6% in the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after purchasing an additional 661,717 shares during the period.

Insider Activity at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the sale, the senior vice president now directly owns 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Insulet Price Performance

PODD stock traded up $3.60 during mid-day trading on Thursday, hitting $309.83. 628,466 shares of the stock were exchanged, compared to its average volume of 714,019. The business has a fifty day moving average price of $295.11 and a 200 day moving average price of $277.04. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 55.72, a PEG ratio of 2.77 and a beta of 1.37.

Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.21. The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. Insulet had a return on equity of 22.25% and a net margin of 18.29%. Insulet's quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, sell-side analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "buy" rating and issued a $380.00 price target (up from $320.00) on shares of Insulet in a report on Thursday, May 22nd. The Goldman Sachs Group began coverage on shares of Insulet in a report on Friday, May 30th. They set a "buy" rating and a $380.00 target price on the stock. Wells Fargo & Company set a $322.00 target price on shares of Insulet in a research note on Monday, April 28th. Truist Financial started coverage on shares of Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Finally, Oppenheimer upped their price target on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.00.

About Insulet

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.