Kayne Anderson Rudnick Investment Management LLC Has $3.57 Million Position in Insulet Co. (NASDAQ:PODD)

Kayne Anderson Rudnick Investment Management LLC increased its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,661 shares of the medical instruments supplier's stock after purchasing an additional 2,031 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Insulet were worth $3,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PODD. Norges Bank acquired a new position in shares of Insulet during the 4th quarter worth about $248,806,000. Raymond James Financial Inc. acquired a new position in shares of Insulet during the 4th quarter worth about $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Insulet during the 4th quarter worth about $53,184,000. Artisan Partners Limited Partnership boosted its stake in shares of Insulet by 24.1% during the 4th 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 last quarter. Finally, Marshall Wace LLP boosted its stake 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 worth $127,015,000 after buying an additional 111,119 shares during the last quarter.

Insulet Price Performance

Shares of NASDAQ:PODD traded up $1.33 during trading on Friday, reaching $260.71. 465,388 shares of the company traded hands, compared to its average volume of 713,786. The company's 50 day moving average is $260.21 and its two-hundred day moving average is $261.91. The firm has a market capitalization of $18.31 billion, a PE ratio of 45.03, a PEG ratio of 3.62 and a beta of 1.30. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46.

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

Insider Transactions at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 3,231 shares of the company's stock, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus increased their price objective 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. Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday, February 21st. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. TD Cowen raised their price objective on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $292.06.

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.