Gradient Investments LLC Raises Stock Holdings in Insulet Corporation $PODD

Gradient Investments LLC raised its stake in shares of Insulet Corporation (NASDAQ:PODD) by 17.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 69,161 shares of the medical instruments supplier’s stock after purchasing an additional 10,497 shares during the quarter. Gradient Investments LLC’s holdings in Insulet were worth $19,658,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PODD. Vanguard Group Inc. raised its holdings in shares of Insulet by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after purchasing an additional 87,845 shares during the last quarter. Norges Bank purchased a new stake in Insulet in the second quarter worth approximately $324,689,000. Federated Hermes Inc. boosted its holdings in Insulet by 14.3% in the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares during the last quarter. Northern Trust Corp grew its position in Insulet by 0.5% in the 3rd quarter. Northern Trust Corp now owns 709,180 shares of the medical instruments supplier’s stock worth $218,945,000 after purchasing an additional 3,618 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Insulet by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after purchasing an additional 6,763 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on Insulet from $345.00 to $338.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a report on Thursday, January 22nd. Truist Financial reduced their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Raymond James Financial lowered their target price on Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Finally, Stifel Nicolaus dropped their target price on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $354.24.

Insider Buying and Selling

In related news, Director Michael R. Minogue purchased 2,030 shares of Insulet stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the transaction, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This represents a 13.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by insiders.

Insulet Trading Down 0.7%

Shares of Insulet stock opened at $227.10 on Monday. Insulet Corporation has a 1-year low of $216.49 and a 1-year high of $354.88. The company’s fifty day simple moving average is $252.11 and its 200-day simple moving average is $292.83. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock has a market capitalization of $15.99 billion, a PE ratio of 64.89, a P/E/G ratio of 1.36 and a beta of 1.42.

Insulet (NASDAQ:PODD) last announced its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. As a group, equities analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.