Exchange Traded Concepts LLC Increases Position in Insulet Corporation (NASDAQ:PODD)

Exchange Traded Concepts LLC raised its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 225.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,552 shares of the medical instruments supplier's stock after buying an additional 1,075 shares during the period. Exchange Traded Concepts LLC's holdings in Insulet were worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Insulet during the fourth quarter worth about $248,806,000. GAMMA Investing LLC boosted its position 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Insulet during the 4th quarter worth approximately $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Insulet during the 4th quarter worth approximately $53,184,000. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter.

Insulet Trading Down 1.5%

Shares of Insulet stock traded down $4.67 on Wednesday, reaching $306.23. The company had a trading volume of 639,362 shares, compared to its average volume of 714,878. The firm's 50 day moving average price is $294.00 and its two-hundred day moving average price is $276.84. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33. The firm has a market cap of $21.55 billion, a PE ratio of 55.08, a PEG ratio of 2.77 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

PODD has been the topic of several analyst reports. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group assumed coverage on Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 target price on the stock. Royal Bank Of Canada started coverage on Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target for the company. Barclays increased their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Truist Financial began coverage on Insulet in a research report on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Insulet has an average rating of "Moderate Buy" and an average target price of $321.00.

Insider Activity at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction on 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 sale, the senior vice president now owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by company insiders.

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.