National Bank of Canada FI Increases Stock Position in Insulet Co. (NASDAQ:PODD)

National Bank of Canada FI increased its position in Insulet Co. (NASDAQ:PODD) by 148.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,805 shares of the medical instruments supplier’s stock after buying an additional 42,337 shares during the quarter. National Bank of Canada FI owned about 0.10% of Insulet worth $18,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PODD. SBI Securities Co. Ltd. purchased a new position in shares of Insulet in the 4th quarter worth about $36,000. SRS Capital Advisors Inc. increased its position in Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 56 shares during the period. Friedenthal Financial acquired a new position in Insulet during the fourth quarter valued at approximately $57,000. Finally, Assetmark Inc. grew its stake in Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares during the period.

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Insulet Trading Down 4.6 %

NASDAQ:PODD opened at $256.80 on Friday. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The company has a market cap of $18.03 billion, a PE ratio of 44.35, a P/E/G ratio of 3.62 and a beta of 1.29. The business’s 50 day moving average is $270.56 and its two-hundred day moving average is $259.45.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. On average, analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price for the company. Canaccord Genuity Group boosted their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup increased their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Company 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.