First Trust Advisors LP Has $37.83 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

First Trust Advisors LP grew its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 71.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 144,913 shares of the medical instruments supplier's stock after acquiring an additional 60,187 shares during the quarter. First Trust Advisors LP owned about 0.21% of Insulet worth $37,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Insulet during the 4th quarter valued at $248,806,000. Raymond James Financial Inc. acquired a new position in Insulet during the fourth quarter worth about $69,433,000. Alecta Tjanstepension Omsesidigt bought a new stake in Insulet in the fourth quarter worth about $53,184,000. Artisan Partners Limited Partnership lifted its holdings in Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after acquiring an additional 149,524 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Insulet by 29.6% during the 4th quarter. Marshall Wace LLP now owns 486,516 shares of the medical instruments supplier's stock valued at $127,015,000 after purchasing an additional 111,119 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on PODD shares. Barclays increased their target price on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday. Royal Bank of Canada initiated coverage on Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 price objective for the company. Canaccord Genuity Group boosted their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company set a $322.00 price target on Insulet in a research report on Monday. Finally, Stifel Nicolaus boosted their price objective on Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Insulet has an average rating of "Moderate Buy" and a consensus price target of $293.94.

Insulet Stock Up 0.4 %

PODD traded up $1.02 during trading on Wednesday, reaching $252.29. 721,003 shares of the stock traded hands, compared to its average volume of 716,045. The stock's 50-day simple moving average is $258.37 and its two-hundred day simple moving average is $261.95. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. As a group, equities research analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the company's 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 sale, the director now owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The transaction 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.

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.