Price T Rowe Associates Inc. MD Sells 119,193 Shares of Insulet Co. (NASDAQ:PODD)

Price T Rowe Associates Inc. MD decreased its position in shares of Insulet Co. (NASDAQ:PODD) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,924 shares of the medical instruments supplier’s stock after selling 119,193 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.62% of Insulet worth $74,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PODD. Sunbelt Securities Inc. bought a new position in Insulet during the 1st quarter worth about $29,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Insulet in the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of Insulet during the fourth quarter valued at approximately $40,000. Lindbrook Capital LLC increased its holdings in Insulet by 64.1% during the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after buying an additional 75 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Insulet during the fourth quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Tuesday, May 7th. Barclays decreased their price objective on Insulet from $213.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $234.00 target price on shares of Insulet in a research note on Tuesday, July 23rd. Raymond James decreased their price target on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Redburn Atlantic started coverage on shares of Insulet in a report on Thursday, May 30th. They issued a “buy” rating and a $235.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.18.

Insiders Place Their Bets

In other news, SVP Mark N. Field sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the sale, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at approximately $2,574,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Timothy J. Scannell sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now owns 12,875 shares of the company’s stock, valued at $2,574,485. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,931 shares of company stock valued at $2,636,286. 0.47% of the stock is owned by insiders.

Insulet Stock Performance

Shares of PODD stock opened at $191.83 on Tuesday. The business has a fifty day moving average of $193.40 and a 200 day moving average of $184.34. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $281.83. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 58.13, a price-to-earnings-growth ratio of 3.47 and a beta of 1.16.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.34. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The business had revenue of $441.70 million for the quarter, compared to analyst estimates of $424.05 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. As a group, research analysts expect that Insulet Co. will post 3.11 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.