Assetmark Inc. Increases Stake in Insulet Co. (NASDAQ:PODD)

Assetmark Inc. boosted its position in Insulet Co. (NASDAQ:PODD) by 1,447.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 263 shares of the medical instruments supplier’s stock after acquiring an additional 246 shares during the period. Assetmark Inc.’s holdings in Insulet were worth $69,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new stake in shares of Insulet in the fourth quarter valued at approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after buying an additional 1,942 shares in the last quarter. Fisher Asset Management LLC grew its stake in Insulet by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after buying an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Insulet by 86.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock valued at $1,822,000 after acquiring an additional 3,623 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Insulet by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after acquiring an additional 8,301 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on PODD. Raymond James reiterated an “outperform” rating and issued a $328.00 price target (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. Finally, TD Cowen upped their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Price Performance

Shares of Insulet stock opened at $255.44 on Friday. The firm has a market capitalization of $17.94 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The business’s 50-day moving average price is $272.54 and its 200-day moving average price is $254.96.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Sell-side analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents 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. Insiders own 0.47% of the company’s stock.

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.