Frank Rimerman Advisors LLC Buys Shares of 841 Insulet Co. (NASDAQ:PODD)

Frank Rimerman Advisors LLC bought a new stake in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 841 shares of the medical instruments supplier’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new stake in shares of Insulet in the fourth quarter valued at about $36,000. SRS Capital Advisors Inc. lifted its holdings in shares of Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Insulet in the fourth quarter valued at about $57,000. TD Private Client Wealth LLC lifted its holdings in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 246 shares in the last quarter.

Insulet Price Performance

Insulet stock opened at $261.63 on Tuesday. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The stock’s 50 day moving average is $272.40 and its 200-day moving average is $255.72. 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 capitalization of $18.37 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 3.62 and a beta of 1.29.

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

Insiders Place Their Bets

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of research reports. TD Cowen boosted their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Raymond James reiterated an “outperform” rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Wells Fargo & Company upped their target price on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Finally, Piper Sandler upped their target price on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insulet 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.