Azzad Asset Management Inc. ADV Has $2.65 Million Stake in Insulet Co. (NASDAQ:PODD)

Azzad Asset Management Inc. ADV increased its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,161 shares of the medical instruments supplier's stock after acquiring an additional 1,181 shares during the period. Azzad Asset Management Inc. ADV's holdings in Insulet were worth $2,653,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Insulet during the 4th quarter valued at approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Jennison Associates LLC boosted its stake in Insulet by 21.8% during the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock valued at $41,338,000 after purchasing an additional 28,375 shares during the period. Vontobel Holding Ltd. boosted its stake in Insulet by 4.3% during the 4th quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier's stock valued at $633,000 after purchasing an additional 100 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Insulet during the 4th quarter valued at approximately $9,822,000.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company's stock, valued at $888,525. This trade represents a 36.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John W. Kapples sold 5,278 shares of the firm's 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 sale, the senior vice president now directly owns 23,180 shares of the company's stock, valued at $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PODD. Wall Street Zen upgraded Insulet from a "hold" rating to a "buy" rating in a research note on Friday. Citigroup restated a "buy" rating and set a $380.00 target price (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Barclays increased their target price on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Finally, Raymond James reiterated an "outperform" rating and issued a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $318.41.

Insulet Price Performance

Shares of Insulet stock traded up $0.65 during midday trading on Friday, hitting $324.50. 960,683 shares of the company were exchanged, compared to its average volume of 709,973. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a market cap of $22.84 billion, a P/E ratio of 56.05, a PEG ratio of 3.62 and a beta of 1.26. Insulet Co. has a 52 week low of $172.07 and a 52 week high of $329.33. The firm has a 50 day simple moving average of $276.61 and a 200-day simple moving average of $271.69.

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, topping the consensus estimate 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 24.46% and a net margin of 20.19%. Insulet's revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. Research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

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.