Congress Wealth Management LLC DE Acquires 984 Shares of Insulet Co. (NASDAQ:PODD)

Congress Wealth Management LLC DE grew its holdings in Insulet Co. (NASDAQ:PODD) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 14,077 shares of the medical instruments supplier’s stock after purchasing an additional 984 shares during the quarter. 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.

Several other hedge funds and other institutional investors have also modified their holdings of PODD. SBI Securities Co. Ltd. bought a new stake in Insulet in the 4th quarter valued at $36,000. SRS Capital Advisors Inc. lifted its stake in shares of Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after buying an additional 56 shares during the period. Friedenthal Financial acquired a new stake in Insulet during the fourth quarter worth about $57,000. TD Private Client Wealth LLC increased its stake 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 valued at $53,000 after acquiring an additional 56 shares during the period. Finally, Assetmark Inc. raised its holdings in Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after acquiring an additional 246 shares in the last quarter.

Insulet Price Performance

Shares of PODD stock opened at $272.71 on Wednesday. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $272.27 and its 200-day moving average is $258.19. The firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 3.62 and a beta of 1.29.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PODD shares. Stifel Nicolaus boosted their price objective on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company increased their price objective 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. Royal Bank of Canada initiated coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Piper Sandler upped their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, TD Cowen raised their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Insulet 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.