Insulet Co. (NASDAQ:PODD) Position Raised by Metis Global Partners LLC

Metis Global Partners LLC raised its position in shares of Insulet Co. (NASDAQ:PODD) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,036 shares of the medical instruments supplier’s stock after purchasing an additional 83 shares during the quarter. Metis Global Partners LLC’s holdings in Insulet were worth $793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PODD. Baillie Gifford & Co. lifted its stake in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Insulet by 5,928.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Insulet during the 4th quarter worth $53,184,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Insulet by 43.8% in 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 acquiring an additional 193,839 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares during the period.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm’s 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 directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PODD. Morgan Stanley lifted their price target on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BTIG Research boosted their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company upped 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. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TD Cowen increased their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insulet Stock Down 1.1 %

Shares of Insulet stock opened at $269.70 on Wednesday. The firm has a market cap of $18.94 billion, a price-to-earnings ratio of 46.58, a P/E/G ratio of 3.62 and a beta of 1.23. The stock has a 50-day simple moving average of $274.33 and a 200-day simple moving average of $251.79. 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 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal 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.