Insulet Corporation $PODD Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its position in shares of Insulet Corporation (NASDAQ:PODD) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,110 shares of the medical instruments supplier’s stock after selling 64,611 shares during the quarter. Primecap Management Co. CA’s holdings in Insulet were worth $38,316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Insulet during the second quarter worth about $324,689,000. Qube Research & Technologies Ltd acquired a new position in Insulet in the 2nd quarter worth approximately $131,439,000. Worldquant Millennium Advisors LLC purchased a new position in Insulet during the 2nd quarter worth approximately $80,082,000. Munro Partners lifted its stake in Insulet by 1,483.0% during the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after acquiring an additional 212,885 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in Insulet during the 3rd quarter valued at approximately $46,525,000.

Insulet Trading Up 1.4%

PODD stock opened at $251.50 on Friday. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $17.71 billion, a P/E ratio of 71.86, a PEG ratio of 1.48 and a beta of 1.41. The company’s 50-day simple moving average is $269.07 and its 200-day simple moving average is $303.58.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to analyst estimates of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.Insulet’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. As a group, equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research lowered shares of Insulet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Leerink Partners lowered their price target on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. Sanford C. Bernstein decreased their price objective on Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Citigroup lowered their target price on Insulet from $380.00 to $345.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $354.57.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $246.23 per share, with a total value of $499,846.90. Following the purchase, the director directly owned 17,483 shares in the company, valued at $4,304,839.09. This represents a 13.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.