Sheets Smith Wealth Management Invests $233,000 in Insulet Co. (NASDAQ:PODD)

Sheets Smith Wealth Management bought a new stake in shares of Insulet Co. (NASDAQ:PODD) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 999 shares of the medical instruments supplier’s stock, valued at approximately $233,000.

Other hedge funds also recently bought and sold shares of the company. ABLE Financial Group LLC bought a new stake in Insulet during the third quarter valued at about $952,000. Portside Wealth Group LLC bought a new stake in Insulet during the 3rd quarter valued at approximately $205,000. Principal Financial Group Inc. boosted its stake in Insulet by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock worth $20,065,000 after purchasing an additional 3,355 shares during the period. WoodTrust Financial Corp grew its holdings in Insulet by 57.7% during the 3rd quarter. WoodTrust Financial Corp now owns 2,365 shares of the medical instruments supplier’s stock valued at $551,000 after buying an additional 865 shares in the last quarter. Finally, Graypoint LLC bought a new stake in shares of Insulet during the third quarter valued at approximately $206,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on PODD. Barclays upped their target price on shares of Insulet from $200.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Raymond James raised their price objective on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Piper Sandler lifted their target price on Insulet from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Citigroup increased their price target on Insulet from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein started coverage on Insulet in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.80.

Insulet Price Performance

PODD stock opened at $268.00 on Monday. The stock has a market cap of $18.79 billion, a PE ratio of 45.89, a P/E/G ratio of 5.00 and a beta of 1.22. Insulet Co. has a 12 month low of $151.56 and a 12 month high of $275.52. The company has a 50-day moving average price of $232.01 and a 200 day moving average price of $204.48. The company has a current ratio of 3.60, a quick ratio of 2.71 and a debt-to-equity ratio of 1.36.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a net margin of 21.22% and a return on equity of 30.29%. The business had revenue of $488.50 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter last year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Insulet Co. will post 3.1 earnings per share for the current year.

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.