Freestone Grove Partners LP Invests $416,000 in Insulet Co. (NASDAQ:PODD)

Freestone Grove Partners LP bought a new stake in Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,594 shares of the medical instruments supplier's stock, valued at approximately $416,000.

A number of other large investors also recently made changes to their positions in PODD. Horizon Investments LLC boosted its position in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock valued at $362,000 after buying an additional 42 shares during the period. Nisa Investment Advisors LLC raised its holdings in Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after purchasing an additional 43 shares in the last quarter. Graypoint LLC lifted its position in Insulet by 5.3% during the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 47 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 47 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Insulet by 2.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock worth $552,000 after buying an additional 48 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Wells Fargo & Company set a $322.00 target price on shares of Insulet in a research note on Monday, April 28th. Piper Sandler increased their target price on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Citigroup upped their price objective on Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada initiated coverage on Insulet in a research report on Thursday, March 6th. They set an "outperform" rating and a $340.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $301.24.

Insulet Trading Up 20.8 %

PODD traded up $53.42 during trading hours on Friday, reaching $310.42. 3,208,610 shares of the company's stock traded hands, compared to its average volume of 727,095. The firm has a market capitalization of $21.84 billion, a PE ratio of 53.61, a PEG ratio of 3.62 and a beta of 1.26. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $311.86. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $256.64 and a 200 day moving average price of $262.99.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million for the quarter, compared to analysts' expectations of $543.20 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Insulet's revenue was up 28.8% compared to the same quarter last year. As a group, sell-side analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by company 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.