401 Shares in Insulet Co. (NASDAQ:PODD) Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC acquired a new position in Insulet Co. (NASDAQ:PODD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 401 shares of the medical instruments supplier’s stock, valued at approximately $105,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PODD. Baillie Gifford & Co. raised its holdings in shares of Insulet by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after purchasing an additional 389,639 shares during the period. Mizuho Securities USA LLC increased its position in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after buying an additional 320,416 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after buying an additional 193,839 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after buying an additional 163,388 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Insulet during the 3rd quarter worth $16,342,000.

Insulet Stock Performance

Shares of PODD opened at $278.38 on Friday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $286.39. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a market cap of $19.53 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 3.48 and a beta of 1.22. The stock has a 50-day moving average price of $268.69 and a 200-day moving average price of $237.96.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.13. The business had revenue of $543.90 million during the quarter, compared to analyst estimates of $518.50 million. Insulet had a net margin of 21.22% and a return on equity of 27.98%. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insulet news, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PODD shares. JPMorgan Chase & Co. boosted 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. Citigroup boosted their price target on shares of Insulet from $283.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Raymond James boosted their target price on shares of Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, TD Cowen raised their price target on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $272.81.

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.