Meridian Wealth Management LLC Buys Shares of 1,103 Insulet Co. (NASDAQ:PODD)

Meridian Wealth Management LLC bought a new stake in Insulet Co. (NASDAQ:PODD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,103 shares of the medical instruments supplier’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PODD. Baillie Gifford & Co. grew its stake in Insulet by 20.7% in the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares in the last quarter. Alecta Tjanstepension Omsesidigt acquired a new stake in Insulet in the fourth quarter worth about $53,184,000. Charles Schwab Investment Management Inc. boosted its holdings in Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after acquiring an additional 193,839 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after acquiring an additional 163,388 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PODD. Raymond James reissued an “outperform” rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Canaccord Genuity Group raised their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Wells Fargo & Company raised their price target on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley lifted their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insider Activity

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

Insulet Trading Up 0.4 %

Shares of NASDAQ:PODD opened at $270.81 on Thursday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The company has a market capitalization of $19.02 billion, a PE ratio of 46.77, a PEG ratio of 3.62 and a beta of 1.29. The business has a 50 day moving average of $274.48 and a two-hundred day moving average of $251.93. 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 (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. As a group, analysts forecast that Insulet Co. will post 3.92 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.