Sequoia Financial Advisors LLC Acquires 50 Shares of Insulet Co. (NASDAQ:PODD)

Sequoia Financial Advisors LLC increased its holdings in Insulet Co. (NASDAQ:PODD) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,170 shares of the medical instruments supplier’s stock after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC’s holdings in Insulet were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of Insulet in the 4th quarter worth $36,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Insulet by 30.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after purchasing an additional 1,942 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Insulet by 0.9% during the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after buying an additional 3,113 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock valued at $1,822,000 after buying an additional 3,623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Insulet by 5.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after buying an additional 8,301 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on PODD. Royal Bank of Canada initiated coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Piper Sandler boosted their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Raymond James restated an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average target price of $292.06.

Insulet Stock Performance

Shares of PODD stock opened at $261.63 on Tuesday. The stock has a market cap of $18.37 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The business has a 50-day simple moving average of $272.40 and a 200-day simple moving average of $255.72. 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 (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to analyst estimates 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.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

About Insulet

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.