Norden Group LLC Grows Stake in Insulet Co. (NASDAQ:PODD)

Norden Group LLC boosted its position in shares of Insulet Co. (NASDAQ:PODD) by 1,276.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,561 shares of the medical instruments supplier’s stock after acquiring an additional 22,777 shares during the quarter. Norden Group LLC’s holdings in Insulet were worth $4,210,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PODD. Capital Research Global Investors grew its position in shares of Insulet by 19.7% during the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after acquiring an additional 1,556,455 shares during the period. Vanguard Group Inc. increased its position in Insulet by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock worth $1,742,264,000 after buying an additional 29,387 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Insulet in the fourth quarter worth about $263,144,000. Norges Bank bought a new position in shares of Insulet in the fourth quarter worth about $227,655,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Insulet by 56.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after buying an additional 316,649 shares in the last quarter.

Insulet Stock Down 0.2 %

Shares of NASDAQ PODD opened at $196.72 on Thursday. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 59.61, a P/E/G ratio of 3.55 and a beta of 1.16. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $293.64. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72. The firm’s 50-day moving average price is $185.42 and its 200-day moving average price is $186.27.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.34. The business had revenue of $441.70 million for the quarter, compared to the consensus estimate of $424.05 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. On average, equities research analysts anticipate that Insulet Co. will post 3.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PODD shares. Raymond James decreased their target price on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group raised their price objective on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Barclays cut their price target on Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Redburn Atlantic began coverage on Insulet in a research report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price objective on the stock. Finally, OTR Global reiterated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.18.

Insider Buying and Selling

In other news, SVP Mark N. Field sold 2,131 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $190.43, for a total value of $405,806.33. Following the sale, the senior vice president now owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Insulet news, SVP Mark N. Field sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total transaction of $405,806.33. Following the completion of the transaction, the senior vice president now owns 14,375 shares in the company, valued at $2,737,431.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark N. Field sold 1,500 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 over the last three months. 0.47% of the stock is owned by insiders.

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.