Insulet Co. (NASDAQ:PODD) Holdings Increased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. lifted its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 50.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,186 shares of the medical instruments supplier's stock after acquiring an additional 1,073 shares during the period. Contravisory Investment Management Inc.'s holdings in Insulet were worth $837,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PODD. Blue Trust Inc. raised its stake in Insulet by 117.3% during the fourth quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier's stock worth $72,000 after purchasing an additional 149 shares during the period. Caprock Group LLC acquired a new stake in shares of Insulet during the 4th quarter worth $274,000. GPS Wealth Strategies Group LLC raised its position in shares of Insulet by 19.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 405 shares of the medical instruments supplier's stock worth $106,000 after buying an additional 65 shares during the period. Jennison Associates LLC boosted its holdings in Insulet by 21.8% in the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock valued at $41,338,000 after acquiring an additional 28,375 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT boosted its holdings in Insulet by 7.8% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,263 shares of the medical instruments supplier's stock valued at $852,000 after acquiring an additional 235 shares during the last quarter.

Insulet Stock Down 0.6%

PODD stock traded down $2.05 during midday trading on Thursday, hitting $317.16. 902,342 shares of the company's stock were exchanged, compared to its average volume of 709,281. The firm has a 50 day moving average price of $280.28 and a 200-day moving average price of $272.91. Insulet Co. has a 12-month low of $173.00 and a 12-month high of $329.33. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 54.78, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. The firm had revenue of $569.00 million for the quarter, compared to analysts' expectations of $543.20 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm's quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

PODD has been the topic of a number of research reports. The Goldman Sachs Group started coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective on the stock. Barclays raised their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Raymond James reiterated an "outperform" rating and set a $360.00 price objective (up from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Insulet from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Piper Sandler lifted their target price on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $318.41.

Insider Transactions at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares of the company's stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $501,875.00. Following the transaction, the director now 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. Corporate insiders own 0.39% of the company's stock.

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.