Primecap Management Co. CA Has $128.76 Million Position in Insulet Co. (NASDAQ:PODD)

Primecap Management Co. CA trimmed its stake in Insulet Co. (NASDAQ:PODD) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 493,218 shares of the medical instruments supplier’s stock after selling 58,880 shares during the quarter. Primecap Management Co. CA owned about 0.70% of Insulet worth $128,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Insulet in the 4th quarter valued at about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Insulet by 30.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after acquiring an additional 1,942 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Insulet by 0.9% during the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock worth $81,719,000 after purchasing an additional 3,113 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Insulet by 5.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock valued at $35,708,000 after purchasing an additional 8,301 shares during the period.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised 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. Canaccord Genuity Group raised their price target on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Citigroup boosted their price objective on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on Insulet in a research report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target for the company. 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 stock presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Transactions at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Insulet Price Performance

Insulet stock opened at $260.47 on Wednesday. The business’s 50 day simple moving average is $272.30 and its 200 day simple moving average is $256.12. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 3.62 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last posted its quarterly 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 company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Sell-side analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

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.