Capital Research Global Investors Sells 187,058 Shares of Insulet Corporation $PODD

Capital Research Global Investors cut its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 3.9% during the third quarter, HoldingsChannel.com reports. The firm owned 4,549,069 shares of the medical instruments supplier’s stock after selling 187,058 shares during the quarter. Capital Research Global Investors owned approximately 0.06% of Insulet worth $1,404,445,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sage Mountain Advisors LLC raised its stake in shares of Insulet by 4.6% during the third 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 boosted its stake in Insulet by 0.8% in the second 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. WINTON GROUP Ltd grew its holdings in Insulet by 0.9% during the 3rd quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock worth $1,261,000 after acquiring an additional 37 shares during the period. Evelyn Partners Investment Management Services Ltd raised its position in shares of Insulet by 28.7% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock valued at $55,000 after acquiring an additional 39 shares during the last quarter. Finally, PDS Planning Inc raised its position in shares of Insulet by 5.1% during the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock valued at $253,000 after acquiring an additional 40 shares during the last quarter.

Insulet Stock Up 1.4%

PODD stock opened at $240.38 on Tuesday. The business has a 50-day moving average of $262.58 and a 200-day moving average of $299.57. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The stock has a market capitalization of $16.92 billion, a P/E ratio of 68.68, a P/E/G ratio of 1.41 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15.

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 net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million during the quarter, compared to analysts’ expectations of $768.31 million. During the same period last year, the business earned $1.15 EPS. The business’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the acquisition, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research lowered Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. TD Cowen lowered shares of Insulet from a “buy” rating to a “hold” rating and set a $294.00 price target for the company. in a report on Monday, January 26th. Truist Financial dropped their price objective on Insulet from $390.00 to $360.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group decreased their target price on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.