Zacks Investment Management Cuts Stake in Insulet Co. (NASDAQ:PODD)

Zacks Investment Management cut its position in Insulet Co. (NASDAQ:PODD) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,268 shares of the medical instruments supplier’s stock after selling 218 shares during the period. Zacks Investment Management’s holdings in Insulet were worth $8,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Insulet by 3.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after acquiring an additional 79,982 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after purchasing an additional 40,566 shares in the last quarter. Norges Bank purchased a new position in shares of Insulet in the fourth quarter worth $248,806,000. Artisan Partners Limited Partnership lifted its holdings in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Insulet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after buying an additional 10,694 shares during the last quarter.

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 transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Insulet Price Performance

Shares of Insulet stock opened at $250.73 on Thursday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 3.62 and a beta of 1.30. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $264.81 and its 200-day simple moving average is $260.62. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46.

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. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. TD Cowen increased their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Citigroup raised their target price on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Piper Sandler boosted their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group raised their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.06.

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.