Russell Investments Group Ltd. grew its stake in Insulet Co. (NASDAQ:PODD – Get Rating) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,854 shares of the medical instruments supplier’s stock after purchasing an additional 7,886 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Insulet worth $16,448,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PODD. Raymond James Financial Services Advisors Inc. increased its holdings in Insulet by 5.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,365 shares of the medical instruments supplier’s stock worth $896,000 after buying an additional 187 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Insulet during the 1st quarter worth $1,140,000. Synovus Financial Corp boosted its holdings in shares of Insulet by 12.4% during the 1st quarter. Synovus Financial Corp now owns 3,716 shares of the medical instruments supplier’s stock valued at $989,000 after acquiring an additional 410 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Insulet by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 96,390 shares of the medical instruments supplier’s stock valued at $25,676,000 after purchasing an additional 1,232 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Insulet by 91.0% in the first quarter. Vontobel Holding Ltd. now owns 3,888 shares of the medical instruments supplier’s stock valued at $1,026,000 after buying an additional 1,852 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PODD shares. Stifel Nicolaus upped their price objective on shares of Insulet from $300.00 to $342.00 and gave the stock a “hold” rating in a report on Thursday, April 20th. Barclays boosted their target price on Insulet from $292.00 to $329.00 in a research report on Monday. Morgan Stanley raised their price target on Insulet from $320.00 to $325.00 and gave the company an “equal weight” rating in a research report on Friday, February 24th. Robert W. Baird upped their price target on shares of Insulet from $350.00 to $370.00 in a research report on Friday, May 5th. Finally, Wolfe Research began coverage on shares of Insulet in a research report on Thursday, January 26th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $330.00.
Insulet Price Performance
Insulet (NASDAQ:PODD – Get Rating) last released its earnings results on Thursday, May 4th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the consensus estimate of $0.09 by $0.14. Insulet had a return on equity of 17.29% and a net margin of 0.04%. The business had revenue of $358.10 million for the quarter, compared to the consensus estimate of $330.21 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts expect that Insulet Co. will post 1.27 EPS for the current fiscal year.
Insiders Place Their Bets
In other Insulet news, insider Charles Alpuche sold 4,000 shares of Insulet stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $278.82, for a total value of $1,115,280.00. Following the completion of the transaction, the insider now directly owns 45,584 shares of the company’s stock, valued at $12,709,730.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Charles Alpuche sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $278.82, for a total transaction of $1,115,280.00. Following the sale, the insider now owns 45,584 shares of the company’s stock, valued at approximately $12,709,730.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Wayde D. Mcmillan sold 1,255 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $318.31, for a total transaction of $399,479.05. Following the sale, the chief financial officer now directly owns 22,865 shares of the company’s stock, valued at approximately $7,278,158.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,656 shares of company stock valued at $9,819,174. Insiders own 0.80% of the company’s stock.
Insulet Profile
Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.
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