Congress Asset Management Co. Acquires 10,721 Shares of Insulet Corporation $PODD

Congress Asset Management Co. raised its holdings in Insulet Corporation (NASDAQ:PODD) by 11.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 100,518 shares of the medical instruments supplier’s stock after purchasing an additional 10,721 shares during the quarter. Congress Asset Management Co.’s holdings in Insulet were worth $28,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. True Wealth Design LLC grew its position in Insulet by 288.0% during the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 72 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 43 shares in the last quarter. Quent Capital LLC acquired a new position in Insulet in the 3rd quarter valued at $49,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Insulet during the 3rd quarter valued at $49,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Insulet during the 2nd quarter valued at $51,000.

Insulet Stock Performance

Shares of PODD stock opened at $225.50 on Wednesday. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 64.43, a PEG ratio of 1.36 and a beta of 1.42. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $250.03 and its 200-day moving average price is $291.12. Insulet Corporation has a 12 month low of $216.49 and a 12 month high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. Equities research analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of the stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Stifel Nicolaus dropped their target price on shares of Insulet from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. UBS Group reaffirmed a “buy” rating on shares of Insulet in a report on Thursday, December 18th. Zacks Research lowered shares of Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Raymond James Financial lowered their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.24.

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.