Commonwealth Equity Services LLC Increases Position in Insulet Co. (NASDAQ:PODD)

Commonwealth Equity Services LLC raised its position in shares of Insulet Co. (NASDAQ:PODD) by 3.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,665 shares of the medical instruments supplier’s stock after buying an additional 508 shares during the period. Commonwealth Equity Services LLC’s holdings in Insulet were worth $4,351,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in Insulet in the 3rd quarter valued at about $220,000. PNC Financial Services Group Inc. boosted its stake in shares of Insulet by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the medical instruments supplier’s stock valued at $3,019,000 after purchasing an additional 886 shares during the period. Intech Investment Management LLC acquired a new position in shares of Insulet in the third quarter valued at approximately $224,000. Charles Schwab Investment Management Inc. increased its stake in Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after buying an additional 193,839 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Insulet by 78.5% during the 3rd quarter. Cerity Partners LLC now owns 10,193 shares of the medical instruments supplier’s stock worth $2,372,000 after buying an additional 4,484 shares in the last quarter.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction 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 directly owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PODD has been the subject of several research reports. TD Cowen boosted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Raymond James reissued an “outperform” rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Citigroup increased their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada assumed coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a 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 stock. According to data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Stock Up 1.1 %

PODD opened at $268.32 on Monday. Insulet Co. has a one year low of $160.19 and a one year 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. The stock has a market capitalization of $18.84 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The business’s 50-day simple moving average is $272.04 and its 200-day simple moving average is $257.37.

Insulet (NASDAQ:PODD) last released 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. The company had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Analysts anticipate that Insulet Co. will post 3.92 EPS for the current 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.