New Age Alpha Advisors LLC Sells 24,885 Shares of Insulet Corporation (NASDAQ:PODD)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Insulet Corporation (NASDAQ:PODD) by 82.7% in the first quarter, holding 5,211 shares valued at $1,368,000 after selling 24,885 shares.
• Insulet reported an earnings per share (EPS) of $1.17 for the latest quarter, surpassing estimates by $0.25 and achieving a year-over-year revenue increase of 32.9%.
• Analysts are generally optimistic, with Wolfe Research and Goldman Sachs both issuing ratings upgrades and price targets above $350, contributing to a consensus rating of "Moderate Buy".

New Age Alpha Advisors LLC trimmed its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 82.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,211 shares of the medical instruments supplier's stock after selling 24,885 shares during the quarter. New Age Alpha Advisors LLC's holdings in Insulet were worth $1,368,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 661,717 shares during the last quarter. Northern Trust Corp increased its holdings in Insulet by 20.5% in the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after purchasing an additional 125,710 shares during the last quarter. Federated Hermes Inc. increased its holdings in Insulet by 23.4% in the first quarter. Federated Hermes Inc. now owns 632,869 shares of the medical instruments supplier's stock valued at $166,198,000 after purchasing an additional 120,197 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Insulet in the fourth quarter valued at about $29,993,000. Finally, Marshall Wace LLP increased its holdings in Insulet by 29.6% in the fourth quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock valued at $127,015,000 after purchasing an additional 111,119 shares during the last quarter.

Insulet Stock Down 0.4%

NASDAQ:PODD traded down $1.14 during trading hours on Tuesday, reaching $303.70. 183,110 shares of the stock were exchanged, compared to its average volume of 770,821. Insulet Corporation has a twelve month low of $180.31 and a twelve month high of $329.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.26 and a quick ratio of 1.81. The firm has a 50 day moving average of $298.72 and a 200 day moving average of $283.24. The stock has a market cap of $21.37 billion, a PE ratio of 92.43, a PEG ratio of 2.66 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group restated a "buy" rating on shares of Insulet in a research report on Thursday. Citigroup restated a "buy" rating on shares of Insulet in a research report on Tuesday, July 8th. Truist Financial assumed coverage on Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 target price for the company. Oppenheimer boosted their target price on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group boosted their target price on Insulet from $331.00 to $353.00 and gave the stock a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $330.71.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president directly owned 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

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.