Townsquare Capital LLC Buys 214 Shares of Insulet Corporation (NASDAQ:PODD)

Townsquare Capital LLC grew its stake in Insulet Corporation (NASDAQ:PODD) by 1.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 17,316 shares of the medical instruments supplier’s stock after purchasing an additional 214 shares during the quarter. Townsquare Capital LLC’s holdings in Insulet were worth $4,547,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PODD. Larson Financial Group LLC raised its stake in Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 81 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Insulet during the 4th quarter worth approximately $42,000. Ramirez Asset Management Inc. acquired a new position in shares of Insulet during the 1st quarter worth approximately $53,000. Golden State Wealth Management LLC raised its stake in Insulet by 553.1% in the 1st quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier’s stock valued at $55,000 after acquiring an additional 177 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in Insulet by 114.7% during the 1st quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier’s stock valued at $65,000 after purchasing an additional 133 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on PODD shares. Canaccord Genuity Group lifted their price objective on shares of Insulet from $331.00 to $353.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Insulet in a report on Friday, May 30th. They set a “buy” rating and a $380.00 target price for the company. Truist Financial started coverage on shares of Insulet in a report on Monday, June 16th. They issued a “buy” rating and a $365.00 price target on the stock. Oppenheimer raised their price objective on shares of Insulet from $312.00 to $324.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 target price on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and seventeen have given 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 $330.71.

Insulet Trading Up 1.2%

Shares of PODD stock opened at $307.10 on Monday. The stock’s fifty day moving average price is $299.12 and its two-hundred day moving average price is $283.07. The company has a market cap of $21.61 billion, a PE ratio of 93.34, a P/E/G ratio of 2.66 and a beta of 1.35. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.25. The firm had revenue of $649.10 million for the quarter, compared to the consensus estimate of $612.31 million. Insulet had a return on equity of 23.78% and a net margin of 10.01%. The company’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Equities analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Activity

In other news, SVP John W. Kapples sold 5,278 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the transaction, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% 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.