AXQ Capital LP Buys Shares of 2,776 Insulet Co. (NASDAQ:PODD)

AXQ Capital LP purchased a new position in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,776 shares of the medical instruments supplier’s stock, valued at approximately $725,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Insulet during the fourth quarter worth about $36,000. SRS Capital Advisors Inc. grew its stake in shares of Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after purchasing an additional 56 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial bought a new stake in Insulet during the fourth quarter worth approximately $57,000. Finally, Assetmark Inc. grew its position in Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares during the last quarter.

Insulet Price Performance

NASDAQ PODD opened at $268.32 on Friday. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock’s 50-day moving average is $272.04 and its two-hundred day moving average is $257.06. The firm has a market cap of $18.84 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last posted its earnings results 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. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. On average, analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PODD. Wells Fargo & Company raised their price objective on Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Piper Sandler lifted their price target on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. TD Cowen boosted 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. Finally, Stifel Nicolaus raised their price objective on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

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.