Sovran Advisors LLC Buys New Stake in Insulet Corporation (NASDAQ:PODD)

Sovran Advisors LLC acquired a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 973 shares of the medical instruments supplier's stock, valued at approximately $240,000.

Several other large investors also recently added to or reduced their stakes in PODD. Horizon Investments LLC raised its stake in shares of Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock valued at $362,000 after acquiring an additional 42 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Insulet by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock worth $552,000 after purchasing an additional 48 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Insulet by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock worth $274,000 after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC raised its position in Insulet by 2.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,170 shares of the medical instruments supplier's stock valued at $566,000 after purchasing an additional 50 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Insulet by 4.9% during the 4th 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.

Insider Buying and Selling at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the sale, the senior vice president owned 23,180 shares of the company's stock, valued at $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Insulet Stock Down 0.2%

NASDAQ PODD traded down $0.49 during trading on Thursday, hitting $301.14. The company's stock had a trading volume of 527,286 shares, compared to its average volume of 719,086. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The company has a market cap of $21.19 billion, a PE ratio of 54.16, a P/E/G ratio of 2.69 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The business's 50 day simple moving average is $302.26 and its 200-day simple moving average is $278.56.

Insulet (NASDAQ:PODD - Get Free Report) last released 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. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company had revenue of $569.00 million during the quarter, compared to analysts' expectations of $543.20 million. During the same period last year, the business earned $0.73 EPS. Insulet's revenue for the quarter was up 28.8% on a year-over-year basis. On average, equities analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

PODD has been the subject of several recent research reports. Citigroup restated a "buy" rating and issued a $380.00 price objective (up from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Barclays upped their price target on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on shares of Insulet in a report on Friday, May 30th. They set a "buy" rating and a $380.00 price objective on the stock. Finally, Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective for the company in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and an average price target 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.