Wealthfront Advisers LLC Acquires 14,978 Shares of Insulet Co. (NASDAQ:PODD)

Wealthfront Advisers LLC raised its position in Insulet Co. (NASDAQ:PODD) by 385.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,860 shares of the medical instruments supplier’s stock after acquiring an additional 14,978 shares during the quarter. Wealthfront Advisers LLC’s holdings in Insulet were worth $4,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PODD. Venturi Wealth Management LLC increased its position in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Insulet in the fourth quarter valued at about $36,000. SRS Capital Advisors Inc. increased its position in shares of Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after acquiring an additional 56 shares during the period. TD Private Client Wealth LLC increased its position in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after acquiring an additional 56 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of Insulet in the fourth quarter valued at about $57,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price target on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Piper Sandler boosted their price target on shares of 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 stock. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insider Transactions at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Insulet Trading Up 1.2 %

Shares of NASDAQ PODD opened at $248.38 on Thursday. The firm’s 50 day moving average price is $273.00 and its 200-day moving average price is $254.08. The company has a market cap of $17.44 billion, a PE ratio of 42.90, a P/E/G ratio of 3.62 and a beta of 1.29. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, equities research analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.