Chesapeake Capital Corp IL Takes Position in Insulet Co. (NASDAQ:PODD)

Chesapeake Capital Corp IL bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,617 shares of the medical instruments supplier’s stock, valued at approximately $422,000.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Insulet during the fourth quarter worth $69,433,000. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Insulet during the 4th quarter worth about $53,184,000. Charles Schwab Investment Management Inc. grew its stake in Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after buying an additional 193,839 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Insulet by 27.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after buying an additional 163,388 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Insulet in the 4th quarter valued at about $28,422,000.

Analysts Set New Price Targets

PODD has been the topic of several research reports. Raymond James reaffirmed an “outperform” rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Wells Fargo & Company upped their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Canaccord Genuity Group lifted their target price on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup upped their price target 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. Finally, TD Cowen lifted their price objective on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on 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 owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Insulet Price Performance

Insulet stock opened at $260.47 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The stock has a market capitalization of $18.29 billion, a P/E ratio of 44.99, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The stock has a fifty day moving average of $272.30 and a 200-day moving average of $256.12.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. On average, sell-side analysts expect that Insulet Co. will post 3.92 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.