Beck Bode LLC Makes New Investment in Insulet Co. (NASDAQ:PODD)

Beck Bode LLC acquired a new position in shares of Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 49,388 shares of the medical instruments supplier’s stock, valued at approximately $10,716,000. Insulet accounts for 2.4% of Beck Bode LLC’s investment portfolio, making the stock its 8th biggest holding. Beck Bode LLC owned about 0.07% of Insulet at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC boosted its position in shares of Insulet by 332.0% in the third quarter. AE Wealth Management LLC now owns 3,784 shares of the medical instruments supplier’s stock valued at $604,000 after acquiring an additional 2,908 shares during the period. Czech National Bank boosted its position in shares of Insulet by 47.9% in the third quarter. Czech National Bank now owns 12,203 shares of the medical instruments supplier’s stock valued at $1,946,000 after acquiring an additional 3,953 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Insulet by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 27,437 shares of the medical instruments supplier’s stock valued at $4,376,000 after acquiring an additional 647 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Insulet by 18.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,024 shares of the medical instruments supplier’s stock valued at $482,000 after acquiring an additional 466 shares during the period. Finally, Xponance Inc. boosted its position in shares of Insulet by 6.0% in the third quarter. Xponance Inc. now owns 16,812 shares of the medical instruments supplier’s stock valued at $2,681,000 after acquiring an additional 949 shares during the period.

Insider Transactions at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares in the company, valued at $418,215.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PODD shares. Barclays dropped their price target on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Stifel Nicolaus boosted their price target on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Piper Sandler dropped their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average target price of $243.21.

Insulet Price Performance

NASDAQ PODD traded up $1.68 during trading on Tuesday, hitting $171.94. 758,586 shares of the company’s stock were exchanged, compared to its average volume of 857,969. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The company has a market cap of $12.04 billion, a PE ratio of 59.09, a P/E/G ratio of 2.99 and a beta of 0.98. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91. The stock’s 50 day moving average price is $171.09 and its two-hundred day moving average price is $180.25.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.73. The company had revenue of $509.80 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. Research analysts expect that Insulet Co. will post 3.08 EPS for the current 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.