Raymond James Financial Inc. Invests $69.43 Million in Insulet Co. (NASDAQ:PODD)

Raymond James Financial Inc. purchased a new position in Insulet Co. (NASDAQ:PODD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 265,957 shares of the medical instruments supplier’s stock, valued at approximately $69,433,000.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Insulet during the fourth quarter worth $36,000. Venturi Wealth Management LLC increased its position in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 133 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 56 shares during the last quarter. Friedenthal Financial acquired a new position in Insulet during the fourth quarter worth $57,000. Finally, TD Private Client Wealth LLC increased its position in Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after buying an additional 56 shares during the last quarter.

Analyst Upgrades and Downgrades

PODD has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James restated an “outperform” rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Piper Sandler upped their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, TD Cowen upped their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Stock Down 3.0 %

PODD stock opened at $251.81 on Monday. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a market cap of $17.68 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The business’s 50-day simple moving average is $274.09 and its 200 day simple moving average is $253.33. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21.

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

Insider Buying and Selling at Insulet

In other Insulet 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the sale, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.