GAMMA Investing LLC Buys Shares of 252 Insulet Co. (NASDAQ:PODD)

GAMMA Investing LLC purchased a new position in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 252 shares of the medical instruments supplier’s stock, valued at approximately $55,000.

Several other hedge funds have also recently made changes to their positions in PODD. Wolff Wiese Magana LLC grew its position in Insulet by 2,680.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 134 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Insulet by 251.0% in the third quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 123 shares during the period. Allworth Financial LP increased its position in Insulet by 104.5% during the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after acquiring an additional 75 shares during the period. Finally, BluePath Capital Management LLC bought a new position in Insulet in the third quarter valued at about $31,000.

Insulet Stock Performance

PODD opened at $170.27 on Thursday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The company has a fifty day moving average of $170.69 and a 200 day moving average of $180.53. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 58.51, a PEG ratio of 3.07 and a beta of 0.98.

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

Insider Transactions at Insulet

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

Analysts Set New Price Targets

PODD has been the subject of several research reports. JPMorgan Chase & Co. upped their price target 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. Stifel Nicolaus increased their price target on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Piper Sandler cut their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Finally, Barclays decreased their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.21.

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.