Prudential Financial Inc. Sells 4,989 Shares of Insulet Co. (NASDAQ:PODD)

Prudential Financial Inc. reduced its holdings in Insulet Co. (NASDAQ:PODD) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,219 shares of the medical instruments supplier’s stock after selling 4,989 shares during the quarter. Prudential Financial Inc.’s holdings in Insulet were worth $9,433,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Insulet in the third quarter valued at $224,000. Cerity Partners LLC boosted its stake in shares of Insulet by 78.5% during the 3rd quarter. Cerity Partners LLC now owns 10,193 shares of the medical instruments supplier’s stock valued at $2,372,000 after purchasing an additional 4,484 shares in the last quarter. Bank of Montreal Can increased its position in shares of Insulet by 9.0% during the third quarter. Bank of Montreal Can now owns 120,701 shares of the medical instruments supplier’s stock valued at $28,006,000 after buying an additional 9,991 shares during the period. Glenmede Trust Co. NA raised its stake in Insulet by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after buying an additional 47 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in Insulet during the 3rd quarter valued at approximately $206,000.

Insider Transactions at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated 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 directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. 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 business has a 50-day simple moving average of $271.69 and a two-hundred day simple moving average of $258.75. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. On average, analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

PODD has been the subject of several research reports. Piper Sandler increased their target price on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Wells Fargo & Company raised their price objective on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada began coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

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.