Praxis Investment Management Inc. Boosts Holdings in Insulet Corporation (NASDAQ:PODD)

Praxis Investment Management Inc. grew its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 101.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,120 shares of the medical instruments supplier's stock after buying an additional 1,070 shares during the period. Praxis Investment Management Inc.'s holdings in Insulet were worth $557,000 at the end of the most recent quarter.

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

Insider Activity

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the 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 transaction, the senior vice president now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Insulet Stock Performance

Shares of PODD stock traded down $4.67 on Wednesday, hitting $306.23. The company had a trading volume of 639,362 shares, compared to its average volume of 714,878. Insulet Corporation has a twelve month low of $173.00 and a twelve month 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. The firm has a market cap of $21.55 billion, a P/E ratio of 55.08, a price-to-earnings-growth ratio of 2.77 and a beta of 1.37. The company has a 50-day moving average price of $294.00 and a 200-day moving average price of $276.84.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. During the same period in the previous year, the company posted $0.73 earnings per share. Insulet's revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PODD shares. Barclays raised their price target on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Oppenheimer raised their price target on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Truist Financial began coverage on shares of Insulet in a research note on Monday, June 16th. They set a "buy" rating and a $365.00 price objective for the company. Finally, Wolfe Research raised Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Insulet currently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Company 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.