Insulet Corporation $PODD Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its stake in shares of Insulet Corporation (NASDAQ:PODD) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,549,069 shares of the medical instruments supplier’s stock after selling 187,058 shares during the period. Capital Research Global Investors owned about 6.47% of Insulet worth $1,404,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PODD. True Wealth Design LLC grew its position in shares of Insulet by 288.0% during the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock valued at $30,000 after acquiring an additional 72 shares during the period. Golden State Wealth Management LLC grew its holdings in Insulet by 202.9% in the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 69 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Insulet by 48.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 43 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Insulet during the third quarter worth about $49,000. Finally, Osterweis Capital Management Inc. purchased a new position in Insulet in the 2nd quarter valued at about $51,000.

Insulet Trading Up 1.4%

Shares of PODD stock opened at $240.38 on Tuesday. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 68.68, a P/E/G ratio of 1.41 and a beta of 1.42. The firm has a fifty day moving average of $262.58 and a 200-day moving average of $299.57.

Insulet (NASDAQ:PODD) last posted its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same quarter last year, the company earned $1.15 EPS. Insulet’s revenue was up 31.2% on a year-over-year basis. On average, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael R. Minogue acquired 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the transaction, the director directly owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of research analyst reports. UBS Group restated a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. The Goldman Sachs Group lowered their price objective on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Raymond James Financial reduced their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Oppenheimer dropped their price target on Insulet from $365.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Finally, Truist Financial decreased their target price on shares of Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insulet currently has an average rating of “Moderate Buy” and an average target price of $354.57.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.