Insulet Co. (NASDAQ:PODD) Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,671 shares of the medical instruments supplier’s stock after selling 4,700 shares during the period. Korea Investment CORP owned about 0.05% of Insulet worth $9,835,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PODD. SBI Securities Co. Ltd. purchased a new stake in Insulet during the 4th quarter worth about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in 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 worth $2,192,000 after acquiring an additional 1,942 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in 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 acquiring an additional 3,623 shares during the period. Nomura Asset Management Co. Ltd. grew its stake 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 worth $35,708,000 after acquiring an additional 8,301 shares during the period. Finally, Stifel Financial Corp raised its holdings in Insulet by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier’s stock valued at $2,450,000 after acquiring an additional 290 shares during the last quarter.

Insulet Price Performance

Shares of NASDAQ PODD opened at $262.61 on Tuesday. 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 Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 3.62 and a beta of 1.29. The business has a 50-day moving average of $271.42 and a 200-day moving average of $259.20.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $582.02 million. On average, equities analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on PODD. Wells Fargo & Company lifted their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup upped their price target on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction that occurred on 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 owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

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.