Proficio Capital Partners LLC Buys New Holdings in Insulet Co. (NASDAQ:PODD)

Proficio Capital Partners LLC bought a new stake in shares of Insulet Co. (NASDAQ:PODD) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 108,866 shares of the medical instruments supplier’s stock, valued at approximately $28,422,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after purchasing an additional 79,982 shares during the period. Geode Capital Management LLC raised its stake in Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after purchasing an additional 22,850 shares during the period. Westfield Capital Management Co. LP raised its stake in Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after purchasing an additional 163,388 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Insulet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after purchasing an additional 10,694 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Insulet by 7.6% during the 4th quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock valued at $98,605,000 after purchasing an additional 26,594 shares during the period.

Insider Activity at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

Insulet Stock Performance

NASDAQ PODD opened at $255.44 on Friday. The company has a market cap of $17.94 billion, a P/E ratio of 44.12, 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 quick ratio of 2.80 and a current ratio of 3.68. The business’s 50 day moving average price is $272.54 and its 200-day moving average price is $254.53. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data 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. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Sell-side analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Piper Sandler lifted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price objective on the stock. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus lifted their price objective on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.06.

Insulet 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.