1,916 Shares in Insulet Co. (NASDAQ:PODD) Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC acquired a new position in shares of Insulet Co. (NASDAQ:PODD) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,916 shares of the medical instruments supplier’s stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PODD. Capital Research Global Investors raised its stake in Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after acquiring an additional 1,556,455 shares during the period. Baillie Gifford & Co. acquired a new stake in Insulet during the fourth quarter worth about $263,144,000. Norges Bank acquired a new stake in Insulet during the fourth quarter worth about $227,655,000. Goldman Sachs Group Inc. raised its stake in Insulet by 56.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock worth $190,623,000 after acquiring an additional 316,649 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Insulet by 206.9% during the first quarter. Canada Pension Plan Investment Board now owns 429,591 shares of the medical instruments supplier’s stock worth $73,632,000 after acquiring an additional 289,591 shares during the period.

Insiders Place Their Bets

In other Insulet news, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Insulet news, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy J. Scannell sold 3,300 shares of Insulet stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total transaction of $596,970.00. Following the completion of the transaction, the director now owns 42,586 shares in the company, valued at approximately $7,703,807.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,931 shares of company stock worth $2,636,286. 0.47% of the stock is owned by insiders.

Insulet Price Performance

Shares of NASDAQ PODD traded down $17.60 during mid-day trading on Friday, reaching $182.19. 2,129,777 shares of the company traded hands, compared to its average volume of 672,840. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $239.70. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The firm has a market cap of $12.76 billion, a PE ratio of 55.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.16. The stock has a fifty day simple moving average of $196.26 and a 200-day simple moving average of $183.90.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $488.50 million for the quarter, compared to analyst estimates of $488.00 million. Insulet had a net margin of 13.14% and a return on equity of 34.06%. Insulet’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts anticipate that Insulet Co. will post 3.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PODD shares. OTR Global restated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Jefferies Financial Group upped their target price on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Tuesday, May 7th. Canaccord Genuity Group restated a “buy” rating and issued a $234.00 target price on shares of Insulet in a research report on Tuesday, July 23rd. Finally, BTIG Research decreased their target price on shares of Insulet from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.88.

About Insulet

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.