Congress Asset Management Co. Purchases 9,916 Shares of Insulet Co. (NASDAQ:PODD)

Congress Asset Management Co. boosted its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,439 shares of the medical instruments supplier's stock after acquiring an additional 9,916 shares during the period. Congress Asset Management Co. owned 0.11% of Insulet worth $19,811,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Portside Wealth Group LLC increased its position in shares of Insulet by 14.8% during the first quarter. Portside Wealth Group LLC now owns 1,009 shares of the medical instruments supplier's stock valued at $263,000 after acquiring an additional 130 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Insulet by 50.8% during the 1st quarter. Contravisory Investment Management Inc. now owns 3,186 shares of the medical instruments supplier's stock worth $837,000 after purchasing an additional 1,073 shares during the period. Juncture Wealth Strategies LLC increased its holdings in Insulet by 51.7% in the 1st quarter. Juncture Wealth Strategies LLC now owns 1,332 shares of the medical instruments supplier's stock valued at $350,000 after purchasing an additional 454 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Insulet in the first quarter valued at approximately $209,000. Finally, Czech National Bank lifted its stake in Insulet by 5.9% during the first quarter. Czech National Bank now owns 16,111 shares of the medical instruments supplier's stock worth $4,231,000 after purchasing an additional 902 shares in the last quarter.

Analyst Ratings Changes

PODD has been the topic of several research reports. Wall Street Zen raised shares of Insulet from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Canaccord Genuity Group upped their price objective on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. The Goldman Sachs Group began coverage on Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective for the company. Finally, Piper Sandler upped their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $318.41.

Insider Activity at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president now owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company's stock in a transaction 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 approximately $888,525. This represents a 36.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Insulet Stock Performance

PODD stock traded down $6.11 on Monday, reaching $305.66. The company's stock had a trading volume of 912,973 shares, compared to its average volume of 709,323. Insulet Co. has a 52 week low of $173.00 and a 52 week high of $329.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The company has a market capitalization of $21.51 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37. The firm has a fifty day moving average of $282.34 and a two-hundred day moving average of $273.77.

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 firm 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 24.46% and a net margin of 20.19%. The firm's revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.