IFP Advisors Inc Has $332,000 Stock Holdings in Insulet Corporation (NASDAQ:PODD)

Key Points

• IFP Advisors Inc increased its holdings in Insulet Corporation (NASDAQ:PODD) by 823.4% in Q1, bringing their total value to $332,000.
• Insulet Corporation reported earnings of $1.02 per share, exceeding analyst estimates of $0.81 and showing a 28.8% increase in quarterly revenue compared to last year.
• Several analysts have raised their price targets on Insulet shares, with Oppenheimer setting a new target of $324.00 and Goldman Sachs initiating coverage with a buy rating and a target of $380.00.

IFP Advisors Inc raised its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 823.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265 shares of the medical instruments supplier's stock after purchasing an additional 1,128 shares during the quarter. IFP Advisors Inc's holdings in Insulet were worth $332,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PODD. Norges Bank acquired a new position in shares of Insulet in the fourth quarter valued at about $248,806,000. GAMMA Investing LLC grew its position in Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after buying an additional 661,717 shares in the last quarter. Northern Trust Corp increased its stake 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 acquiring an additional 125,710 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Insulet in the 4th quarter valued at $29,993,000. Finally, Marshall Wace LLP lifted its position in shares of Insulet by 29.6% during the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock valued at $127,015,000 after acquiring an additional 111,119 shares during the period.

Insider Activity

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction 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 completion of the transaction, the senior vice president owned 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 the SEC website. Company insiders own 0.39% of the company's stock.

Insulet Trading Up 2.3%

NASDAQ PODD traded up $6.78 on Wednesday, hitting $298.27. The company's stock had a trading volume of 540,817 shares, compared to its average volume of 501,473. The company's 50-day moving average is $303.77 and its 200 day moving average is $282.10. The firm has a market cap of $20.99 billion, a PE ratio of 53.65, a PEG ratio of 2.60 and a beta of 1.35. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. The business 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 22.25% and a net margin of 18.29%. Insulet's quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PODD shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research note 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. Oppenheimer lifted their price objective on shares of Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Truist Financial began coverage on shares of Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 price objective for the company. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $360.00 target price (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.00.

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.