Insulet Co. (NASDAQ:PODD) Shares Sold by Capital Research Global Investors

Capital Research Global Investors reduced its holdings in shares of Insulet Co. (NASDAQ:PODD) by 4.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,446,305 shares of the medical instruments supplier’s stock after selling 326,099 shares during the period. Capital Research Global Investors owned approximately 10.62% of Insulet worth $1,944,029,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. SBI Securities Co. Ltd. acquired a new stake in Insulet during the 4th quarter worth approximately $36,000. SRS Capital Advisors Inc. raised its position in Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock worth $49,000 after buying an additional 56 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Insulet in the fourth quarter valued at about $57,000. Assetmark Inc. increased its stake in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 246 shares during the period. Finally, Blue Trust Inc. raised its holdings in Insulet by 117.3% during the fourth quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 149 shares in the last quarter.

Insider Activity

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

Analyst Ratings Changes

PODD has been the subject of a number of analyst reports. StockNews.com downgraded Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Wells Fargo & Company upped their target price on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James reissued an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Piper Sandler raised their price objective on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada initiated coverage on Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $246.80 on Friday. The business has a fifty day simple moving average of $263.29 and a 200-day simple moving average of $260.80. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The company has a market cap of $17.33 billion, a P/E ratio of 42.63, a P/E/G 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.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data 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 net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Equities research 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.