Portside Wealth Group LLC Buys Shares of 879 Insulet Co. (NASDAQ:PODD)

Portside Wealth Group LLC acquired a new stake in shares of Insulet Co. (NASDAQ:PODD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 879 shares of the medical instruments supplier’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PODD. Blue Trust Inc. lifted its stake 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 valued at $30,000 after buying an additional 58 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Insulet during the second quarter worth $32,000. UMB Bank n.a. boosted its holdings in shares of Insulet by 81.0% in the second quarter. UMB Bank n.a. now owns 181 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 81 shares during the period. CVA Family Office LLC grew its position in shares of Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 145 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Insulet by 159.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 254 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 156 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on the company. Sanford C. Bernstein started coverage on Insulet in a research note on Wednesday. They issued an “outperform” rating and a $300.00 target price for the company. Barclays raised their price objective on shares of Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Canaccord Genuity Group upped their target price on shares of Insulet from $236.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. UBS Group raised their price target on shares of Insulet from $211.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Raymond James upped their price target on shares of Insulet from $213.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.80.

Insulet Stock Up 9.4 %

Shares of PODD opened at $268.00 on Friday. Insulet Co. has a 1 year low of $151.56 and a 1 year high of $275.52. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.60 and a quick ratio of 2.71. The stock has a 50 day simple moving average of $232.01 and a two-hundred day simple moving average of $204.22. The firm has a market cap of $18.79 billion, a P/E ratio of 48.73, a P/E/G ratio of 4.47 and a beta of 1.22.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $488.00 million. Insulet had a net margin of 21.11% and a return on equity of 30.73%. Insulet’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, analysts forecast that Insulet Co. will post 3.04 earnings per share for the current fiscal year.

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.