iA Global Asset Management Inc. Grows Holdings in Insulet Co. (NASDAQ:PODD)

iA Global Asset Management Inc. increased its position in shares of Insulet Co. (NASDAQ:PODD) by 131.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,756 shares of the medical instruments supplier’s stock after buying an additional 2,698 shares during the period. iA Global Asset Management Inc.’s holdings in Insulet were worth $1,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PODD. Victory Capital Management Inc. increased its stake in Insulet by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 35,706 shares of the medical instruments supplier’s stock worth $8,311,000 after buying an additional 1,724 shares during the period. Empowered Funds LLC purchased a new stake in Insulet during the 3rd quarter worth $220,000. Natixis Advisors LLC increased its stake in Insulet by 34.8% during the 3rd quarter. Natixis Advisors LLC now owns 33,161 shares of the medical instruments supplier’s stock worth $7,718,000 after buying an additional 8,554 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Insulet in the 3rd quarter worth about $2,221,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Insulet by 7.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the medical instruments supplier’s stock valued at $3,019,000 after purchasing an additional 886 shares in the last quarter.

Insulet Stock Up 1.1 %

PODD stock opened at $268.32 on Friday. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The firm has a market cap of $18.84 billion, a PE ratio of 46.34, a P/E/G ratio of 3.62 and a beta of 1.29. The firm has a 50 day simple moving average of $272.04 and a 200 day simple moving average of $256.71. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Equities research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Raymond James restated an “outperform” rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Wells Fargo & Company upped their target price on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Piper Sandler boosted their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insider Activity at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

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.