Caprock Group LLC Takes Position in Insulet Co. (NASDAQ:PODD)

Caprock Group LLC purchased a new position in shares of Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,049 shares of the medical instruments supplier’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock worth $30,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC raised its stake in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after acquiring an additional 56 shares during the period. Friedenthal Financial acquired a new stake in shares of Insulet in the 4th quarter valued at $57,000. Finally, Versant Capital Management Inc grew its holdings in shares of Insulet by 106.1% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 157 shares during the last quarter.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Insulet from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. TD Cowen boosted their target price on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Canaccord Genuity Group increased their price target on Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their target price on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $277.13.

Insiders Place Their Bets

In other Insulet 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 transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Price Performance

Shares of PODD stock opened at $287.67 on Friday. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 3.49 and a beta of 1.23. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $288.05. 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 stock has a 50-day moving average price of $269.95 and a 200 day moving average price of $240.32.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, topping the consensus estimate of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The company had revenue of $543.90 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter in the previous year, the company earned $0.71 EPS. Research analysts expect that Insulet Co. will post 3.22 EPS for the current year.

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.