Praxis Investment Management Inc. Purchases 1,070 Shares of Insulet Corporation (NASDAQ:PODD)

Praxis Investment Management Inc. grew its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 101.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,120 shares of the medical instruments supplier's stock after purchasing an additional 1,070 shares during the quarter. Praxis Investment Management Inc.'s holdings in Insulet were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Insulet by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock valued at $463,347,000 after acquiring an additional 40,566 shares in the last quarter. Norges Bank bought a new position in Insulet in the 4th quarter worth approximately $248,806,000. Artisan Partners Limited Partnership boosted its stake in Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares during the period. Northern Trust Corp grew its holdings in Insulet by 20.5% during the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after buying an additional 125,710 shares in the last quarter. Finally, 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 valued at $1,744,100,000 after buying an additional 661,717 shares during the last quarter.

Insulet Trading Up 0.5%

Shares of PODD opened at $303.15 on Friday. The company's fifty day simple moving average is $291.86 and its 200-day simple moving average is $276.25. The company has a market cap of $21.34 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.71 and a beta of 1.37. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. Insulet Corporation has a twelve month low of $173.00 and a twelve month high of $329.33.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PODD. Truist Financial initiated coverage on shares of Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 target price for the company. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Citigroup restated a "buy" rating and set a $380.00 price objective (up previously from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. The Goldman Sachs Group started coverage on Insulet in a research report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price on the stock. Finally, Oppenheimer increased their price target on Insulet from $312.00 to $324.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $321.00.

Insider Activity at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 owns 3,231 shares of the company's stock, valued at approximately $888,525. The trade was a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 23,180 shares of the company's stock, valued at $7,382,134.60. The trade was a 18.55% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding PODD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insulet Corporation (NASDAQ:PODD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.