IPG Investment Advisors LLC Takes $1.50 Million Position in Insulet Co. (NASDAQ:PODD)

IPG Investment Advisors LLC bought a new position in Insulet Co. (NASDAQ:PODD) during the 4th quarter, HoldingsChannel reports. The fund bought 5,732 shares of the medical instruments supplier’s stock, valued at approximately $1,496,000.

Other hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC grew its stake in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after buying an additional 42 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after acquiring an additional 43 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after purchasing an additional 47 shares in the last quarter. Finally, Graypoint LLC raised its position in Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after purchasing an additional 47 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PODD. JPMorgan Chase & Co. increased their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Wells Fargo & Company raised their price objective 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. Piper Sandler upped their target price 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. TD Cowen increased 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $258.75 on Friday. The firm’s 50 day simple moving average is $271.69 and its 200 day simple moving average is $258.75. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 3.62 and a beta of 1.29. 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 (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share 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 company had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. As a group, sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

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.