Forum Financial Management LP Makes New $300,000 Investment in Insulet Corporation (NASDAQ:PODD)

Forum Financial Management LP purchased a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,141 shares of the medical instruments supplier's stock, valued at approximately $300,000.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Insulet by 55.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after buying an additional 1,867 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Insulet by 85.1% during the 1st quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock worth $236,000 after purchasing an additional 412 shares during the period. QRG Capital Management Inc. boosted its position in shares of Insulet by 75.6% during the 1st quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock worth $533,000 after purchasing an additional 874 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Insulet during the 4th quarter worth approximately $9,822,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Insulet by 225.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after purchasing an additional 1,075 shares during the period.

Insulet Stock Up 0.3%

Shares of PODD traded up $0.78 during midday trading on Friday, reaching $284.23. The stock had a trading volume of 349,138 shares, compared to its average volume of 717,682. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company's fifty day simple moving average is $309.07 and its two-hundred day simple moving average is $280.99. The company has a market cap of $20.00 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 2.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. The firm had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company's revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Equities research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PODD shares. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a research report on Monday, April 28th. Citigroup reaffirmed a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 price target for the company. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $321.00.

Insider Activity at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total value of $1,680,884.66. Following the transaction, the senior vice president directly owned 23,180 shares of the company's stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.39% of the stock is 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.