NewEdge Wealth LLC Makes New Investment in Insulet Co. (NASDAQ:PODD)

NewEdge Wealth LLC acquired a new position in Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 994 shares of the medical instruments supplier’s stock, valued at approximately $216,000.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in shares of Insulet by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 2,968 shares of the medical instruments supplier’s stock worth $948,000 after acquiring an additional 41 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Insulet by 7.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 743 shares of the medical instruments supplier’s stock worth $214,000 after acquiring an additional 53 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Insulet by 6.6% in the 1st quarter. Cresset Asset Management LLC now owns 1,102 shares of the medical instruments supplier’s stock worth $293,000 after acquiring an additional 68 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Insulet by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 2,396 shares of the medical instruments supplier’s stock worth $705,000 after acquiring an additional 75 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Insulet by 1.3% in the 1st quarter. Guggenheim Capital LLC now owns 5,946 shares of the medical instruments supplier’s stock worth $1,584,000 after acquiring an additional 76 shares in the last quarter.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $164.73 on Friday. The firm’s 50-day moving average price is $174.50 and its 200-day moving average price is $178.80. The company has a quick ratio of 2.62, a current ratio of 3.51 and a debt-to-equity ratio of 1.86. The company has a market cap of $11.53 billion, a PE ratio of 56.61, a PEG ratio of 2.99 and a beta of 0.98. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $335.91.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. The firm had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. As a group, analysts anticipate that Insulet Co. will post 3.08 EPS for the current year.

Analyst Ratings Changes

PODD has been the subject of several research reports. Barclays decreased their price target on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Robert W. Baird upgraded shares of Insulet from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $180.00 to $238.00 in a research note on Thursday, December 21st. Stifel Nicolaus increased their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Piper Sandler cut their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average target price of $243.21.

Insider Activity

In related news, Director Shacey Petrovic sold 11,609 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the transaction, the director now owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% 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.