Norden Group LLC Increases Position in Insulet Co. (NASDAQ:PODD)

Norden Group LLC grew its stake in Insulet Co. (NASDAQ:PODD) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,162 shares of the medical instruments supplier’s stock after acquiring an additional 561 shares during the quarter. Norden Group LLC’s holdings in Insulet were worth $1,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. Blue Trust Inc. increased its holdings in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 58 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Insulet by 20.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 11,720 shares of the medical instruments supplier’s stock valued at $2,684,000 after acquiring an additional 1,980 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Insulet by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,122 shares of the medical instruments supplier’s stock valued at $1,890,000 after acquiring an additional 550 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Insulet by 14.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,345 shares of the medical instruments supplier’s stock valued at $1,011,000 after acquiring an additional 548 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in Insulet during the 3rd quarter worth $217,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PODD shares. BTIG Research boosted their target price on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their target price on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Sanford C. Bernstein started coverage on Insulet in a research note on Wednesday, November 6th. They set an “outperform” rating and a $300.00 target price on the stock. Stifel Nicolaus boosted their target price on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $289.06.

Insider Activity

In related news, EVP Eric Benjamin sold 12,394 shares of the company’s 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 owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Insulet Stock Performance

Shares of PODD stock opened at $272.27 on Friday. The stock has a market cap of $19.12 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The business has a 50-day simple moving average of $274.01 and a 200-day simple moving average of $250.30. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, equities analysts expect that Insulet Co. will post 3.92 EPS for the current year.

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.