Cetera Investment Advisers Acquires 4,037 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Cetera Investment Advisers has increased its stake in Insulet Corporation by 167.0%, owning a total of 6,455 shares valued at approximately $1.7 million after purchasing an additional 4,037 shares in the first quarter.
• Several other institutional investors, including Allspring Global Investments and Farther Finance Advisors, have also significantly increased their holdings in Insulet during the same period.
• Insulet reported strong quarterly earnings with an EPS of $1.17, surpassing analysts' expectations, and showed a year-over-year revenue growth of 32.9%.

Cetera Investment Advisers increased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 167.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,455 shares of the medical instruments supplier's stock after acquiring an additional 4,037 shares during the quarter. Cetera Investment Advisers' holdings in Insulet were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Insulet by 55.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock worth $1,376,000 after acquiring an additional 1,867 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Insulet by 85.1% in the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock valued at $236,000 after buying an additional 412 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Insulet by 75.6% in the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock valued at $533,000 after buying an additional 874 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Insulet by 225.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock valued at $408,000 after buying an additional 1,075 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Insulet by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 8,212 shares of the medical instruments supplier's stock valued at $2,156,000 after buying an additional 210 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on PODD. Citigroup reaffirmed a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Jefferies Financial Group reissued a "buy" rating on shares of Insulet in a report on Thursday. Oppenheimer increased their target price on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Morgan Stanley reissued an "overweight" rating on shares of Insulet in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Insulet from $330.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $330.71.

Insider Transactions at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction dated Wednesday, May 14th. The stock was 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 directly owned 23,180 shares in the company, valued at $7,382,134.60. This represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Insulet Price Performance

Insulet stock traded up $4.43 during midday trading on Tuesday, hitting $309.27. 601,757 shares of the company's stock were exchanged, compared to its average volume of 772,663. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The stock has a 50-day moving average price of $298.72 and a two-hundred day moving average price of $283.24. Insulet Corporation has a 52-week low of $180.31 and a 52-week high of $329.33. The company has a market cap of $21.77 billion, a P/E ratio of 94.00, a PEG ratio of 2.66 and a beta of 1.35.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.25. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The firm had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company's revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

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.