Corebridge Financial Inc. Acquires 177 Shares of Insulet Co. (NASDAQ:PODD)

Corebridge Financial Inc. increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 18,578 shares of the medical instruments supplier’s stock after buying an additional 177 shares during the period. Corebridge Financial Inc.’s holdings in Insulet were worth $4,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its position in shares of Insulet by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares in the last quarter. Horizon Investments LLC boosted its holdings in Insulet by 3.1% in the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock worth $1,146,000 after acquiring an additional 43 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Insulet by 2.3% during the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock valued at $484,000 after acquiring an additional 47 shares in the last quarter. Finally, Graypoint LLC raised its position in shares of Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 47 shares during the last quarter.

Insiders Place Their Bets

In other Insulet news, 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 completion of the transaction, the director now directly owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the firm’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 sale, 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 disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $258.75 on Friday. The firm’s 50 day moving average price is $271.69 and its 200-day moving average price is $258.75. 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 has a market capitalization of $18.17 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46.

Insulet (NASDAQ:PODD) last issued 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 for 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%. Equities research analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. TD Cowen increased their price target on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada started coverage on shares of Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price objective for the company. Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Stifel Nicolaus boosted their price target on Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insulet presently has an average rating of “Moderate Buy” and an average target price of $292.06.

Insulet Company 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.