Proficio Capital Partners LLC Buys Shares of 108,866 Insulet Co. (NASDAQ:PODD)

Proficio Capital Partners LLC bought a new stake in Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,866 shares of the medical instruments supplier’s stock, valued at approximately $28,422,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PODD. Baillie Gifford & Co. grew its position in Insulet by 20.7% in the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after acquiring an additional 389,639 shares during the last quarter. Mizuho Securities USA LLC grew its position in Insulet by 5,928.1% in the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock valued at $75,835,000 after acquiring an additional 320,416 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Insulet by 43.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after purchasing an additional 193,839 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Insulet during the third quarter worth about $16,342,000.

Insulet Price Performance

Shares of PODD opened at $272.27 on Friday. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The business’s 50 day moving average price is $274.01 and its two-hundred day moving average price is $249.91. The firm has a market cap of $19.10 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $582.02 million. On average, equities analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren Budden sold 915 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Insulet in a report on Wednesday, November 6th. They set an “outperform” rating and a $300.00 price target on the stock. Stifel Nicolaus boosted their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Barclays boosted their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, BTIG Research boosted their price target on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $289.06.

Insulet 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.