Geneos Wealth Management Inc. Buys 8,921 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• Geneos Wealth Management Inc. increased its stake in Insulet Corporation by 29.6% during the first quarter, owning approximately 0.06% of the company valued at $10.26 million after purchasing additional shares.
• Insulet's shares opened at $292.27 and the company reported a 28.8% increase in revenue year-over-year, exceeding analyst estimates with $569 million for the quarter.
• Several investment analysts have issued ratings for Insulet, with Raymond James setting a price target at $360.00 and an average rating of "Moderate Buy".

Geneos Wealth Management Inc. increased its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 29.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,047 shares of the medical instruments supplier's stock after buying an additional 8,921 shares during the period. Geneos Wealth Management Inc. owned about 0.06% of Insulet worth $10,264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PODD. GAMMA Investing LLC increased its stake in shares of Insulet by 27,298.6% during the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock valued at $1,744,100,000 after acquiring an additional 661,717 shares during the last quarter. Northern Trust Corp increased its position in Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock worth $192,881,000 after purchasing an additional 125,710 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Insulet during the 4th quarter worth approximately $29,993,000. Marshall Wace LLP increased its position in Insulet by 29.6% during the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock worth $127,015,000 after purchasing an additional 111,119 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Insulet by 24.4% during the 4th quarter. Federated Hermes Inc. now owns 512,672 shares of the medical instruments supplier's stock worth $133,843,000 after purchasing an additional 100,436 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PODD shares. Barclays upped their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Oppenheimer upped their price target on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Truist Financial started coverage on Insulet in a report on Monday, June 16th. They issued a "buy" rating and a $365.00 price target for the company. Citigroup restated a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $321.00.

Insider Transactions at Insulet

In related 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 owned 23,180 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Insulet Stock Down 1.1%

Insulet stock traded down $3.15 during midday trading on Friday, reaching $285.26. The stock had a trading volume of 345,030 shares, compared to its average volume of 763,350. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The company has a market capitalization of $20.07 billion, a P/E ratio of 51.28, a PEG ratio of 2.66 and a beta of 1.35. The company has a fifty day moving average price of $303.12 and a two-hundred day moving average price of $282.24. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last announced 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. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The firm had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. During the same quarter in the previous year, the business earned $0.73 EPS. The company's revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts expect that Insulet Corporation 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.