Paces Ferry Wealth Advisors LLC Invests $232,000 in Insulet Co. (NASDAQ:PODD)

Paces Ferry Wealth Advisors LLC acquired a new stake in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,068 shares of the medical instruments supplier’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. purchased a new position in Insulet in the fourth quarter valued at about $263,144,000. William Blair Investment Management LLC grew its stake in shares of Insulet by 145.1% during the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after buying an additional 433,884 shares during the last quarter. Northern Trust Corp increased its stake in shares of Insulet by 7.6% in the third quarter. Northern Trust Corp now owns 681,731 shares of the medical instruments supplier’s stock worth $108,729,000 after buying an additional 47,938 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Insulet by 62.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after buying an additional 244,922 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Insulet by 227.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after purchasing an additional 268,553 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PODD shares. Piper Sandler cut their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Barclays decreased their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Stifel Nicolaus increased their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.21.

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now owns 2,567 shares in the company, valued at $418,215.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

Insulet Stock Up 1.0 %

Shares of PODD stock traded up $1.68 during mid-day trading on Tuesday, hitting $171.94. The stock had a trading volume of 758,586 shares, compared to its average volume of 857,969. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The firm has a market capitalization of $12.04 billion, a P/E ratio of 59.09, a price-to-earnings-growth ratio of 2.99 and a beta of 0.98. The firm’s 50-day moving average is $171.09 and its two-hundred day moving average is $180.25. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $335.91.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. The business had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, analysts predict that Insulet Co. will post 3.08 earnings per share for the current fiscal year.

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.