Federated Hermes Inc. Has $133.84 Million Stake in Insulet Co. (NASDAQ:PODD)

Federated Hermes Inc. lifted its stake in Insulet Co. (NASDAQ:PODD) by 24.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 512,672 shares of the medical instruments supplier’s stock after purchasing an additional 100,436 shares during the quarter. Federated Hermes Inc.’s holdings in Insulet were worth $133,843,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new stake in shares of Insulet during the 4th quarter valued at $36,000. SRS Capital Advisors Inc. lifted its position in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during the period. Friedenthal Financial acquired a new position in shares of Insulet in the 4th quarter valued at approximately $57,000. TD Private Client Wealth LLC raised its position in 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 purchasing an additional 56 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 246 shares during the last quarter.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value 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 approximately $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PODD. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James reissued an “outperform” rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Citigroup increased their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group upped 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insulet Stock Performance

Shares of PODD stock opened at $245.26 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a 50-day moving average of $269.86 and a 200-day moving average of $259.70. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a market cap of $17.22 billion, a P/E ratio of 42.36, a P/E/G ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD) last announced 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Equities research analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.