Insulet Co. (NASDAQ:PODD) Shares Sold by Ithaka Group LLC

Ithaka Group LLC decreased its position in shares of Insulet Co. (NASDAQ:PODD) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,035 shares of the medical instruments supplier’s stock after selling 786 shares during the period. Insulet comprises 1.4% of Ithaka Group LLC’s investment portfolio, making the stock its 27th biggest holding. Ithaka Group LLC’s holdings in Insulet were worth $7,580,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Insulet during the fourth quarter valued at $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Insulet by 30.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after acquiring an additional 1,942 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Insulet by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock valued at $81,719,000 after purchasing an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock worth $1,822,000 after purchasing an additional 3,623 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Insulet by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock worth $35,708,000 after purchasing an additional 8,301 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James reiterated an “outperform” rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Wells Fargo & Company upped their price target on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada initiated coverage on shares of Insulet in a research report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Price Performance

Insulet stock opened at $248.38 on Thursday. The stock has a market cap of $17.44 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company has a fifty day simple moving average of $273.00 and a 200-day simple moving average of $254.08. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (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 during the quarter, compared to analysts’ expectations of $582.02 million. Equities analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insider Activity at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet 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 directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.