AXQ Capital LP Purchases Shares of 2,776 Insulet Co. (NASDAQ:PODD)

AXQ Capital LP acquired a new position in shares of Insulet Co. (NASDAQ:PODD) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,776 shares of the medical instruments supplier’s stock, valued at approximately $725,000.

Other large investors have also made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of 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 acquiring an additional 79,982 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Insulet by 1.3% in 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 holdings in shares of Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $168,902,000 after buying an additional 10,694 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Insulet by 7.6% in 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 buying an additional 26,594 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler increased 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. Wells Fargo & Company lifted their price target on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Stock Performance

Shares of NASDAQ:PODD opened at $268.32 on Friday. 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 1-year low of $160.19 and a 1-year high of $289.46. The stock has a market capitalization of $18.84 billion, a P/E ratio of 46.34, a P/E/G ratio of 3.62 and a beta of 1.29. The business has a 50-day moving average price of $272.04 and a two-hundred day moving average price of $257.06.

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, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Equities analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

Insider Buying and Selling

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 owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.