Congress Wealth Management LLC DE Raises Stock Position in Insulet Co. (NASDAQ:PODD)

Congress Wealth Management LLC DE increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,077 shares of the medical instruments supplier’s stock after purchasing an additional 984 shares during the period. Congress Wealth Management LLC DE’s holdings in Insulet were worth $3,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after buying an additional 79,982 shares during the period. Geode Capital Management LLC boosted its holdings in Insulet by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock worth $403,339,000 after acquiring an additional 22,850 shares during the period. Charles Schwab Investment Management Inc. grew its position in Insulet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after acquiring an additional 10,694 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Insulet by 7.6% during the fourth quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock valued at $98,605,000 after purchasing an additional 26,594 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Insulet during the fourth quarter worth $69,433,000.

Insulet Trading Down 0.5 %

Shares of NASDAQ PODD opened at $272.71 on Wednesday. The company has a market cap of $19.15 billion, a price-to-earnings ratio of 47.10, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The stock’s 50 day simple moving average is $272.27 and its 200 day simple moving average is $258.19. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PODD shares. Royal Bank of Canada assumed coverage on shares of Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target for the company. TD Cowen lifted their target price on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Citigroup increased their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company lifted their price objective on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Stifel Nicolaus increased their target price on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.06.

Insiders Place Their Bets

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by insiders.

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.