Insulet Co. (NASDAQ:PODD) Stock Holdings Increased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Insulet Co. (NASDAQ:PODDFree Report) by 17.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,661 shares of the medical instruments supplier’s stock after purchasing an additional 2,031 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Insulet were worth $3,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet during the fourth quarter worth $36,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after buying an additional 1,942 shares during the period. Ayrshire Capital Management LLC lifted its stake in Insulet by 34.6% during the fourth quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier’s stock valued at $6,001,000 after buying an additional 5,911 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Insulet by 21.8% in the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier’s stock worth $41,338,000 after buying an additional 28,375 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Insulet in the fourth quarter worth approximately $1,234,000.

Insider Activity at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PODD. TD Cowen raised 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. Citigroup raised their target price on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target on the stock. Raymond James restated an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Finally, Piper Sandler upped their target price on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Read Our Latest Report on PODD

Insulet Price Performance

Shares of NASDAQ:PODD opened at $238.57 on Tuesday. The stock has a market capitalization of $16.75 billion, a P/E ratio of 41.20, a P/E/G ratio of 3.62 and a beta of 1.30. The business has a 50-day moving average of $262.47 and a two-hundred day moving average of $261.27. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODDGet Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. On average, equities research analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insulet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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