Geneos Wealth Management Inc. Grows Stock Position in Insulet Co. (NASDAQ:PODD)

Geneos Wealth Management Inc. raised its position in Insulet Co. (NASDAQ:PODD) by 68.5% in the 4th quarter, Holdings Channel reports. The fund owned 30,126 shares of the medical instruments supplier’s stock after purchasing an additional 12,244 shares during the period. Geneos Wealth Management Inc.’s holdings in Insulet were worth $7,865,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Insulet by 1.4% in the fourth quarter. Fifth Third Bancorp now owns 8,560 shares of the medical instruments supplier’s stock worth $2,235,000 after acquiring an additional 116 shares in the last quarter. CX Institutional purchased a new stake in Insulet during the 4th quarter worth approximately $238,000. RFG Advisory LLC acquired a new position in shares of Insulet in the 4th quarter valued at approximately $247,000. Donoghue Forlines LLC purchased a new position in shares of Insulet during the 4th quarter valued at approximately $2,039,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Insulet during the fourth quarter worth approximately $257,000.

Insulet Stock Up 1.1 %

PODD stock opened at $280.35 on Friday. The stock has a market cap of $19.66 billion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 3.50 and a beta of 1.22. The firm’s 50-day simple moving average is $267.25 and its 200 day simple moving average is $235.25. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $282.86. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, beating the consensus estimate of $0.77 by $0.13. The company had revenue of $543.90 million for the quarter, compared to analyst estimates of $518.50 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. During the same quarter last year, the business earned $0.71 earnings per share. As a group, sell-side analysts predict that Insulet Co. will post 3.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Canaccord Genuity Group upped their target price on shares of Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their price target on Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Citigroup upped their price objective on Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley lifted their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $272.81.

Insider Activity at Insulet

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

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.