Sequoia Financial Advisors LLC Raises Stock Position in Insulet Co. (NASDAQ:PODD)

Sequoia Financial Advisors LLC boosted its stake in shares of Insulet Co. (NASDAQ:PODD) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,170 shares of the medical instruments supplier’s stock after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC’s holdings in Insulet were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PODD. Baillie Gifford & Co. raised its position in shares of Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC increased its stake in Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock worth $403,339,000 after buying an additional 22,850 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after acquiring an additional 163,388 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Insulet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after acquiring an additional 10,694 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Insulet by 7.6% in the fourth quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock worth $98,605,000 after acquiring an additional 26,594 shares during the last quarter.

Insulet Trading Up 2.4 %

Shares of PODD stock opened at $261.63 on Tuesday. The company has a 50-day moving average of $272.40 and a two-hundred day moving average of $255.72. The firm has a market cap of $18.37 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. 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 posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

PODD has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group raised their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Piper Sandler upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. Finally, TD Cowen upped their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.06.

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.