Sharpepoint LLC Purchases New Position in Insulet Co. (NASDAQ:PODD)

Sharpepoint LLC 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 8,010 shares of the medical instruments supplier's stock, valued at approximately $2,091,000. Insulet comprises approximately 1.9% of Sharpepoint LLC's investment portfolio, making the stock its 19th largest position.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PODD. TD Cowen upped their price target on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Citigroup raised their price target on Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, February 21st. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. Finally, Canaccord Genuity Group upped their price target on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Four equities research 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 price target of $292.06.

Insulet Price Performance

PODD stock traded up $1.54 during mid-day trading on Friday, hitting $260.92. 202,971 shares of the stock were exchanged, compared to its average volume of 713,076. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 45.05, a PEG ratio of 3.62 and a beta of 1.30. 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 12 month low of $160.19 and a 12 month high of $289.46. The business has a fifty day moving average price of $260.61 and a 200 day moving average price of $261.27.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. On average, sell-side analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Insulet Company 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.