Allstate Corp Takes $545,000 Position in Insulet Co. (NASDAQ:PODD)

Allstate Corp bought a new position in shares of Insulet Co. (NASDAQ:PODD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,088 shares of the medical instruments supplier’s stock, valued at approximately $545,000.

Other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC increased its stake in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after buying an additional 42 shares during the period. Nisa Investment Advisors LLC increased its stake in Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after buying an additional 43 shares during the period. Glenmede Trust Co. NA lifted its holdings in Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after buying an additional 47 shares in the last quarter. Finally, Graypoint LLC boosted its position in Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after buying an additional 47 shares during the period.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $263.18 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a 50-day simple moving average of $271.17 and a 200-day simple moving average of $259.40. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 3.62 and a beta of 1.29.

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

Insider Transactions at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction 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 $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

PODD has been the subject of several recent research reports. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Stifel Nicolaus lifted their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

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.