Primecap Management Co. CA Cuts Stock Position in Insulet Corporation $PODD

Primecap Management Co. CA decreased its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,110 shares of the medical instruments supplier’s stock after selling 64,611 shares during the quarter. Primecap Management Co. CA owned about 0.18% of Insulet worth $38,316,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Sage Mountain Advisors LLC increased its holdings in shares of Insulet by 4.6% in the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock worth $229,000 after buying an additional 33 shares during the last quarter. Curi Capital LLC lifted its holdings in shares of Insulet by 0.8% in the 2nd quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after acquiring an additional 36 shares during the last quarter. Evelyn Partners Investment Management Services Ltd grew its position in Insulet by 28.7% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock worth $55,000 after acquiring an additional 39 shares in the last quarter. PDS Planning Inc increased its stake in Insulet by 5.1% during the third quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock worth $253,000 after acquiring an additional 40 shares during the last quarter. Finally, Camarda Financial Advisors LLC raised its position in Insulet by 0.5% during the second quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier’s stock valued at $2,304,000 after purchasing an additional 40 shares during the period.

Insulet Trading Up 1.4%

PODD opened at $251.50 on Friday. The stock has a fifty day moving average price of $269.07 and a 200-day moving average price of $303.58. Insulet Corporation has a 12 month low of $230.05 and a 12 month high of $354.88. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 71.86, a PEG ratio of 1.48 and a beta of 1.41. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61.

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

Insiders Place Their Bets

In related news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PODD has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Insulet from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Truist Financial lowered their price target on Insulet from $390.00 to $360.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Wolfe Research boosted their price objective on shares of Insulet from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Raymond James Financial reduced their target price on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $380.00 price target on shares of Insulet in a research note on Wednesday, February 18th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $354.57.

About Insulet

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.