Frontier Capital Management Co. LLC Acquires 19,692 Shares of Insulet Co. (NASDAQ:PODD)

Frontier Capital Management Co. LLC raised its holdings in shares of Insulet Co. (NASDAQ:PODD) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,170 shares of the medical instruments supplier’s stock after purchasing an additional 19,692 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Insulet were worth $28,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of Insulet in the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in Insulet during the fourth quarter worth $42,000. SRS Capital Advisors Inc. increased its position in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after acquiring an additional 56 shares during the last quarter. Friedenthal Financial bought a new position in Insulet during the 4th quarter valued at about $57,000. Finally, Assetmark Inc. raised its holdings in shares of Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares during the period.

Insiders Place Their Bets

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on PODD. Piper Sandler upped their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research note on Monday, April 28th. Raymond James reissued an “outperform” rating and issued a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Wolfe Research lowered Insulet from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $299.81.

Insulet Stock Down 2.8 %

PODD stock opened at $257.00 on Friday. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a 50 day moving average price of $256.64 and a two-hundred day moving average price of $262.99. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market capitalization of $18.08 billion, a P/E ratio of 44.39, a PEG ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. As a group, sell-side analysts expect that Insulet Co. will post 3.92 EPS for the current year.

About Insulet

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.