QRG Capital Management Inc. Purchases 874 Shares of Insulet Corporation (NASDAQ:PODD)

QRG Capital Management Inc. increased its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,030 shares of the medical instruments supplier's stock after purchasing an additional 874 shares during the period. QRG Capital Management Inc.'s holdings in Insulet were worth $533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Investments LLC lifted its stake in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 42 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Insulet by 2.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after buying an additional 48 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Insulet by 5.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock worth $274,000 after buying an additional 50 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Insulet by 2.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,170 shares of the medical instruments supplier's stock worth $566,000 after buying an additional 50 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Insulet by 4.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,092 shares of the medical instruments supplier's stock worth $285,000 after buying an additional 51 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

Insulet Stock Up 1.2%

Shares of PODD traded up $3.60 on Thursday, hitting $309.83. 628,466 shares of the stock traded hands, compared to its average volume of 714,019. Insulet Corporation has a one year low of $173.00 and a one year high of $329.33. The company has a market capitalization of $21.81 billion, a PE ratio of 55.72, a P/E/G ratio of 2.73 and a beta of 1.37. The business has a 50 day simple moving average of $296.37 and a 200 day simple moving average of $277.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.63 and a current ratio of 4.47.

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

Wall Street Analyst Weigh In

PODD has been the subject of a number of recent research reports. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a report on Monday, April 28th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Oppenheimer boosted their price target on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Truist Financial assumed coverage on shares of Insulet in a research report on Monday, June 16th. They set a "buy" rating and a $365.00 price target for the company. Finally, The Goldman Sachs Group started coverage on Insulet in a research note on Friday, May 30th. They set a "buy" rating and a $380.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.