Moran Wealth Management LLC Makes New $6.01 Million Investment in Insulet Corporation (NASDAQ:PODD)

Moran Wealth Management LLC purchased a new stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,869 shares of the medical instruments supplier's stock, valued at approximately $6,006,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Insulet during the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of Insulet in the 4th quarter valued at about $42,000. SRS Capital Advisors Inc. lifted its position in shares of Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after purchasing an additional 56 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 246 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of Insulet by 135.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 162 shares during the period.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the firm'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 value of $1,680,884.66. Following the sale, the senior vice president now owns 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 available through this link. 0.39% of the stock is owned by insiders.

Insulet Stock Performance

Shares of NASDAQ:PODD traded up $3.60 during trading on Thursday, reaching $309.83. The stock had a trading volume of 628,466 shares, compared to its average volume of 714,534. The stock has a fifty day simple moving average of $295.11 and a two-hundred day simple moving average of $277.04. 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 Corporation has a 52 week low of $173.00 and a 52 week high of $329.33. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 55.72, a P/E/G ratio of 2.77 and a beta of 1.37.

Insulet (NASDAQ:PODD - Get Free Report) last announced 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. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The firm had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. During the same quarter last year, the firm posted $0.73 EPS. The business's quarterly revenue was up 28.8% on a year-over-year basis. As a group, analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup reiterated a "buy" rating and issued a $380.00 price objective (up previously from $320.00) on shares of Insulet in a research note on Thursday, May 22nd. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target on the stock in a research note on Tuesday, May 13th. Barclays lifted their price objective on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Finally, Wall Street Zen lowered Insulet from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Insulet currently has an average rating of "Moderate Buy" and an average 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.