Wealthfront Advisers LLC Raises Stock Position in Insulet Co. (NASDAQ:PODD)

Wealthfront Advisers LLC increased its stake in Insulet Co. (NASDAQ:PODD) by 385.8% during the 4th quarter, HoldingsChannel reports. The firm owned 18,860 shares of the medical instruments supplier’s stock after buying an additional 14,978 shares during the period. Wealthfront Advisers LLC’s holdings in Insulet were worth $4,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in shares of Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after acquiring an additional 79,982 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Insulet by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock valued at $403,339,000 after purchasing an additional 22,850 shares during the period. Westfield Capital Management Co. LP raised 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 purchasing an additional 163,388 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Insulet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after purchasing an additional 10,694 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Insulet by 7.6% during the 4th quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock valued at $98,605,000 after purchasing an additional 26,594 shares during the period.

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet 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 directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

Insulet Stock Performance

Insulet stock opened at $248.38 on Thursday. The company’s 50-day moving average price is $273.00 and its 200-day moving average price is $254.08. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The company has a market cap of $17.44 billion, a PE ratio of 42.90, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

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

Analyst Upgrades and Downgrades

PODD has been the topic of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Raymond James reiterated an “outperform” rating and issued a $328.00 price target (up from $294.00) on shares of Insulet in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price target on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and a consensus 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.