Harvest Fund Management Co. Ltd Makes New Investment in Insulet Co. (NASDAQ:PODD)

Harvest Fund Management Co. Ltd bought a new stake in Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,311 shares of the medical instruments supplier’s stock, valued at approximately $603,000.

Several other large investors have also modified their holdings of PODD. Victory Capital Management Inc. raised its stake in Insulet by 5.1% during the third quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier’s stock valued at $8,311,000 after buying an additional 1,724 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Insulet in the 3rd quarter valued at approximately $220,000. Natixis Advisors LLC raised its position in shares of Insulet by 34.8% during the 3rd quarter. Natixis Advisors LLC now owns 33,161 shares of the medical instruments supplier’s stock valued at $7,718,000 after acquiring an additional 8,554 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Insulet during the third quarter worth $2,221,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Insulet by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the medical instruments supplier’s stock worth $3,019,000 after purchasing an additional 886 shares during the period.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup raised their target price on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group upped their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James reiterated an “outperform” rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Wells Fargo & Company boosted their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.

Insulet Trading Down 0.2 %

Insulet stock opened at $265.39 on Friday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The stock has a market capitalization of $18.64 billion, a PE ratio of 45.84, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The firm has a 50 day simple moving average of $272.11 and a 200-day simple moving average of $256.26. 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 (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $582.02 million. As a group, equities research analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.