Insulet Co. (NASDAQ:PODD) Stock Position Reduced by S&CO Inc.

S&CO Inc. cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 14.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,165 shares of the medical instruments supplier’s stock after selling 2,298 shares during the period. S&CO Inc.’s holdings in Insulet were worth $3,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PODD. Janney Montgomery Scott LLC grew its position in Insulet by 7.5% in the third quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock worth $1,318,000 after acquiring an additional 394 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Insulet in the third quarter worth approximately $297,000. Principal Financial Group Inc. grew its position in Insulet by 4.0% in the third quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock worth $20,065,000 after acquiring an additional 3,355 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in Insulet in the third quarter worth approximately $233,000. Finally, State of New Jersey Common Pension Fund D grew its position in Insulet by 2.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,434 shares of the medical instruments supplier’s stock worth $5,920,000 after acquiring an additional 621 shares in the last quarter.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PODD. Citigroup boosted their target price 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. Morgan Stanley boosted their target price on shares of Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Canaccord Genuity Group boosted 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. Stifel Nicolaus upped their price objective on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Raymond James reaffirmed an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Price Performance

NASDAQ:PODD opened at $237.06 on Tuesday. The stock has a market cap of $16.65 billion, a P/E ratio of 40.94, a PEG ratio of 3.62 and a beta of 1.29. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a fifty day moving average price of $273.56 and a 200 day moving average price of $253.69. 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 (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Analysts anticipate that Insulet Co. will post 3.92 earnings per share 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.