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

QRG Capital Management Inc. lifted its stake in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 75.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,030 shares of the medical instruments supplier's stock after acquiring an additional 874 shares during the period. QRG Capital Management Inc.'s holdings in Insulet were worth $533,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PODD has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Wall Street Zen lowered shares of Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a report on Monday, April 28th. Truist Financial assumed coverage on shares of Insulet in a research note on Monday, June 16th. They issued a "buy" rating and a $365.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Insulet in a research report on Friday, May 30th. They set a "buy" rating and a $380.00 target price for the company. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Insulet currently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Stock Up 0.5%

Shares of NASDAQ:PODD opened at $303.15 on Monday. Insulet Corporation has a 1 year low of $173.00 and a 1 year high of $329.33. The company has a market capitalization of $21.34 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.71 and a beta of 1.37. The business has a fifty day moving average price of $291.86 and a two-hundred day moving average price of $276.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63.

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

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the 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 completion of the transaction, the senior vice president now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company's stock, valued at $888,525. The trade was a 36.10% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by 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.

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