Moran Wealth Management LLC Makes New $6.01 Million Investment in Insulet Corporation (NASDAQ:PODD)

Moran Wealth Management LLC purchased a new position in Insulet Corporation (NASDAQ:PODD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,869 shares of the medical instruments supplier’s stock, valued at approximately $6,006,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PODD. Norges Bank purchased a new position in Insulet in the 4th quarter worth approximately $248,806,000. GAMMA Investing LLC raised its position in shares of Insulet by 27,298.6% in the 1st quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier’s stock valued at $1,744,100,000 after purchasing an additional 661,717 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Insulet in the 4th quarter valued at approximately $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Insulet in the 4th quarter valued at approximately $53,184,000. Finally, Artisan Partners Limited Partnership raised its position in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter.

Insiders Place Their Bets

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total value of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares of the company’s stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PODD. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Insulet in a research report on Friday, May 16th. Wall Street Zen lowered Insulet from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $322.00 target price on Insulet in a research report on Monday, April 28th. The Goldman Sachs Group began coverage on Insulet in a research report on Friday, May 30th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, Citigroup reaffirmed a “buy” rating and issued a $380.00 target price (up from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.00.

Insulet Price Performance

Shares of NASDAQ PODD opened at $310.90 on Wednesday. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.47 and a quick ratio of 3.63. The business’s fifty day moving average price is $294.00 and its two-hundred day moving average price is $276.84. The firm has a market capitalization of $21.88 billion, a PE ratio of 55.92, a P/E/G ratio of 2.75 and a beta of 1.37.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 22.25% and a net margin of 18.29%. The firm had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same period last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, research analysts expect that Insulet Corporation will post 3.92 EPS for the current 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.