Insulet Co. (NASDAQ:PODD) Stake Lowered by NEOS Investment Management LLC

NEOS Investment Management LLC decreased its position in shares of Insulet Co. (NASDAQ:PODD) by 44.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,350 shares of the medical instruments supplier’s stock after selling 5,047 shares during the period. NEOS Investment Management LLC’s holdings in Insulet were worth $1,658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its stake in Insulet by 9.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 8,717 shares of the medical instruments supplier’s stock valued at $2,276,000 after acquiring an additional 765 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Insulet by 12.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,444 shares of the medical instruments supplier’s stock valued at $29,678,000 after purchasing an additional 12,206 shares during the last quarter. Trust Investment Advisors bought a new stake in Insulet in the fourth quarter worth $214,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Insulet during the fourth quarter worth $229,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PODD. Canaccord Genuity Group upped their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Stifel Nicolaus lifted their price target on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on shares of Insulet in a report on Thursday, March 6th. They issued 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insider Transactions at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm’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 transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Insulet Trading Down 0.6 %

Shares of Insulet stock opened at $258.75 on Friday. The stock has a market capitalization of $18.17 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. 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 company has a 50-day simple moving average of $271.69 and a 200 day simple moving average of $258.75.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Research analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal 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.