Iron Triangle Partners LP Boosts Stake in Insulet Co. (NASDAQ:PODD)

Iron Triangle Partners LP lifted its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 40.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,014 shares of the medical instruments supplier's stock after buying an additional 44,014 shares during the period. Insulet comprises about 4.4% of Iron Triangle Partners LP's investment portfolio, making the stock its 9th largest holding. Iron Triangle Partners LP owned 0.22% of Insulet worth $40,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PODD. Norges Bank acquired a new position in shares of Insulet during the fourth quarter worth about $248,806,000. Raymond James Financial Inc. acquired a new position in shares of Insulet during the fourth quarter worth about $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Insulet during the fourth quarter worth about $53,184,000. Artisan Partners Limited Partnership boosted its position in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after buying an additional 149,524 shares during the period. Finally, Northern Trust Corp boosted its position in Insulet by 20.5% during the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after purchasing an additional 125,710 shares during the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the subject of several recent research reports. Raymond James reissued an "outperform" rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. StockNews.com cut Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Citigroup increased their price target on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Barclays increased their price target on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler increased their price target on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $306.53.

Insulet Stock Performance

Shares of PODD traded up $5.00 during mid-day trading on Wednesday, reaching $319.46. The company's stock had a trading volume of 114,660 shares, compared to its average volume of 712,226. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $323.00. The stock has a market cap of $22.48 billion, a P/E ratio of 55.18, a PEG ratio of 3.62 and a beta of 1.26. The business has a 50-day simple moving average of $259.46 and a two-hundred day simple moving average of $264.81. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.21. The company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm'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 earnings per share. As a group, equities research analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by corporate 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.