Algert Global LLC Decreases Stock Holdings in Insulet Co. (NASDAQ:PODD)

Algert Global LLC lowered its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,482 shares of the medical instruments supplier's stock after selling 1,649 shares during the period. Algert Global LLC's holdings in Insulet were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet in the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in shares of Insulet in the fourth quarter valued at approximately $42,000. SRS Capital Advisors Inc. boosted its position in shares of Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after buying an additional 56 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Insulet during the fourth quarter valued at approximately $57,000. Finally, Assetmark Inc. raised its position in Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after buying an additional 246 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on PODD. Wolfe Research downgraded shares of Insulet from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 29th. Piper Sandler upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective on the stock. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $303.81.

Insiders Place Their Bets

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction on Tuesday, March 25th. The shares were 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 of the company's stock, valued at approximately $888,525. This trade represents a 36.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

Insulet Price Performance

NASDAQ:PODD traded up $6.00 during mid-day trading on Monday, hitting $316.67. 1,404,398 shares of the stock traded hands, compared to its average volume of 715,589. The business's 50-day moving average price is $257.45 and its 200 day moving average price is $263.88. 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 company has a market cap of $22.28 billion, a PE ratio of 54.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $319.61.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. During the same period last year, the firm earned $0.73 EPS. The business's quarterly revenue was up 28.8% compared to the same quarter last year. On average, analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.