OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Insulet Co. (NASDAQ:PODD)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,043 shares of the medical instruments supplier’s stock, valued at approximately $226,000.

A number of other institutional investors have also modified their holdings of the stock. Wolff Wiese Magana LLC lifted its stake in shares of Insulet by 2,680.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 139 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 134 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Insulet by 251.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 172 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Allworth Financial LP grew its position in shares of Insulet by 104.5% during the 3rd quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 92 shares during the period. Lindbrook Capital LLC increased its stake in shares of Insulet by 64.1% in the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Insulet in the 3rd quarter worth about $31,000.

Insider Buying and Selling

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total value of $1,891,338.28. Following the sale, the director now owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by insiders.

Insulet Price Performance

Shares of PODD opened at $164.42 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The stock has a market cap of $11.51 billion, a PE ratio of 56.50, a P/E/G ratio of 2.99 and a beta of 0.98. The firm has a 50-day simple moving average of $173.42 and a two-hundred day simple moving average of $179.28. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $335.91.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million for the quarter, compared to analysts’ expectations of $461.26 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 37.9% compared to the same quarter last year. As a group, analysts forecast that Insulet Co. will post 3.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Piper Sandler reduced their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Stifel Nicolaus lifted their target price on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research report on Monday, February 5th. Finally, Barclays reduced their price target on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $243.21.

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.