Insulet Corporation (NASDAQ:PODD) Shares Acquired by Founders Financial Alliance LLC

Key Points

• Founders Financial Alliance LLC increased its stake in Insulet Corporation by 120.6%, owning 2,230 shares valued at approximately $586,000.
• Insulet reported a quarterly earnings per share of $1.17, surpassing market expectations and marking a 32.9% increase in revenue year-over-year.
• Several analysts have upgraded their price targets for Insulet, with a consensus target price now set at $324.72 and the stock holding a rating of "Moderate Buy."

Founders Financial Alliance LLC boosted its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 120.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,230 shares of the medical instruments supplier's stock after purchasing an additional 1,219 shares during the quarter. Founders Financial Alliance LLC's holdings in Insulet were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Insulet by 55.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock worth $1,376,000 after acquiring an additional 1,867 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Insulet by 85.1% in the first quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock worth $236,000 after acquiring an additional 412 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Insulet by 75.6% in the first quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock worth $533,000 after acquiring an additional 874 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Insulet by 225.4% in the first quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after acquiring an additional 1,075 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Insulet by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 8,212 shares of the medical instruments supplier's stock worth $2,156,000 after acquiring an additional 210 shares in the last quarter.

Insulet Stock Performance

Shares of NASDAQ:PODD traded up $4.79 during trading on Tuesday, hitting $309.63. 723,141 shares of the company traded hands, compared to its average volume of 774,498. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 94.11, a PEG ratio of 2.66 and a beta of 1.35. The business's fifty day moving average is $298.72 and its 200-day moving average is $283.24. Insulet Corporation has a one year low of $180.31 and a one year high of $329.33. The company has a quick ratio of 1.81, a current ratio of 2.26 and a debt-to-equity ratio of 0.64.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 EPS for the quarter, beating the consensus estimate of $0.92 by $0.25. The company had revenue of $649.10 million during the quarter, compared to analyst estimates of $612.31 million. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The business's revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, equities analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on PODD. Barclays boosted their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating on shares of Insulet in a research note on Thursday. Oppenheimer boosted their price objective on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Citigroup reissued a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Insulet in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.71.

Insider Activity

In other news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was 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. Corporate insiders own 0.39% of the company's stock.

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.