Sheets Smith Wealth Management Boosts Stock Position in Insulet Co. (NASDAQ:PODD)

Sheets Smith Wealth Management grew its holdings in shares of Insulet Co. (NASDAQ:PODD) by 37.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,371 shares of the medical instruments supplier’s stock after acquiring an additional 372 shares during the period. Sheets Smith Wealth Management’s holdings in Insulet were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PODD. Blue Trust Inc. boosted its stake in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Friedenthal Financial bought a new position in shares of Insulet during the fourth quarter worth about $57,000. TD Private Client Wealth LLC grew its stake in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 157 shares during the last quarter.

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s 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 sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was 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.

Analysts Set New Price Targets

A number of research analysts have commented on PODD shares. Citigroup increased their target price on Insulet from $283.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley lifted their price objective on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.81.

Insulet Stock Up 1.0 %

Shares of Insulet stock opened at $278.89 on Thursday. 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 Co. has a 1-year low of $160.19 and a 1-year high of $282.86. The business’s fifty day moving average price is $266.52 and its two-hundred day moving average price is $234.38. The company has a market capitalization of $19.56 billion, a P/E ratio of 47.76, a PEG ratio of 3.46 and a beta of 1.22.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.13. The business had revenue of $543.90 million for the quarter, compared to analysts’ expectations of $518.50 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, research analysts forecast that Insulet Co. will post 3.22 EPS for the current year.

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.