Wakefield Asset Management LLLP Invests $255,000 in Insulet Corporation (NASDAQ:PODD)

Wakefield Asset Management LLLP acquired a new stake in Insulet Corporation (NASDAQ:PODD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 970 shares of the medical instruments supplier's stock, valued at approximately $255,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Insulet by 55.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,229 shares of the medical instruments supplier's stock valued at $1,376,000 after purchasing an additional 1,867 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Insulet by 85.1% in the first quarter. Farther Finance Advisors LLC now owns 896 shares of the medical instruments supplier's stock valued at $236,000 after purchasing an additional 412 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Insulet by 75.6% in the first quarter. QRG Capital Management Inc. now owns 2,030 shares of the medical instruments supplier's stock valued at $533,000 after purchasing an additional 874 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Insulet during the fourth quarter worth $9,822,000. Finally, Exchange Traded Concepts LLC increased its holdings in Insulet by 225.4% during the first quarter. Exchange Traded Concepts LLC now owns 1,552 shares of the medical instruments supplier's stock worth $408,000 after buying an additional 1,075 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Citigroup restated a "buy" rating on shares of Insulet in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $322.00 target price on shares of Insulet in a report on Monday, April 28th. Finally, Barclays boosted their target price on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $321.00.

Insulet Price Performance

PODD traded up $3.64 on Friday, hitting $290.22. 528,135 shares of the stock were exchanged, compared to its average volume of 578,892. Insulet Corporation has a 12 month low of $173.00 and a 12 month high of $329.33. The business has a 50-day moving average of $305.68 and a two-hundred day moving average of $281.62. 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 firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 52.20, a PEG ratio of 2.56 and a beta of 1.35.

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 the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The business had revenue of $569.00 million during the quarter, compared to analysts' expectations of $543.20 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. Insulet's revenue was up 28.8% compared to the same quarter last year. Sell-side analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Activity at Insulet

In other 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 value of $1,680,884.66. Following the completion of the transaction, the senior vice president owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company's stock.

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.