Russell Investments Group Ltd. Sells 7,088 Shares of Insulet Co. (NASDAQ:PODD)

Russell Investments Group Ltd. lessened its stake in Insulet Co. (NASDAQ:PODD) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,168 shares of the medical instruments supplier’s stock after selling 7,088 shares during the period. Russell Investments Group Ltd. owned about 0.05% of Insulet worth $7,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Insulet during the 4th quarter valued at approximately $86,000. Truist Financial Corp increased its position in shares of Insulet by 154.3% during the fourth quarter. Truist Financial Corp now owns 4,651 shares of the medical instruments supplier’s stock worth $1,009,000 after buying an additional 2,822 shares during the period. Syon Capital LLC bought a new position in Insulet during the fourth quarter worth $288,000. Atria Wealth Solutions Inc. acquired a new position in Insulet in the fourth quarter valued at $288,000. Finally, GAMMA Investing LLC bought a new stake in Insulet during the fourth quarter valued at $55,000.

Insider Activity at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the sale, the director now owns 2,567 shares in the company, valued at approximately $418,215.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PODD. Piper Sandler lowered their price objective on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday. Finally, Barclays decreased 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 note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insulet Price Performance

PODD stock opened at $184.28 on Wednesday. The company has a market capitalization of $12.90 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $331.65. The business has a 50-day simple moving average of $170.08 and a two-hundred day simple moving average of $181.70. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51.

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

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.