EFG Asset Management North America Corp. Buys 2,296 Shares of Insulet Co. (NASDAQ:PODD)

EFG Asset Management North America Corp. increased its stake in Insulet Co. (NASDAQ:PODD) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,266 shares of the medical instruments supplier’s stock after acquiring an additional 2,296 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Insulet were worth $2,420,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new position in Insulet during the 4th quarter worth approximately $36,000. SRS Capital Advisors Inc. raised its stake in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 56 shares during the last quarter. Friedenthal Financial acquired a new position in Insulet in the fourth quarter valued at $57,000. TD Private Client Wealth LLC boosted its position in Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after acquiring an additional 56 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Insulet by 1,447.1% during the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 246 shares during the period.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares in the company, 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 SEC, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Royal Bank of Canada started coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler increased their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Price Performance

Shares of NASDAQ PODD opened at $272.71 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. The firm’s 50-day simple moving average is $272.27 and its 200 day simple moving average is $258.19. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 3.62 and a beta of 1.29. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $582.02 million. As a group, research analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.