Insulet Co. (NASDAQ:PODD) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 65.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,870 shares of the medical instruments supplier's stock after selling 89,600 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Insulet worth $12,497,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PODD. SBI Securities Co. Ltd. purchased a new position in Insulet during the fourth quarter worth about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 buying an additional 1,942 shares during the last quarter. Ayrshire Capital Management LLC raised its position in shares of Insulet by 34.6% during the 4th quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier's stock valued at $6,001,000 after buying an additional 5,911 shares during the period. Jennison Associates LLC lifted its holdings in Insulet by 21.8% in the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock valued at $41,338,000 after acquiring an additional 28,375 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in Insulet in the fourth quarter worth approximately $1,234,000.

Insider Activity at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now owns 3,231 shares of the company's stock, valued at $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PODD shares. Wells Fargo & Company upped their price target on Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Raymond James reaffirmed an "outperform" rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Piper Sandler lifted their price target on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. TD Cowen upped their price objective on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Insulet currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

Insulet Stock Up 0.5 %

Shares of NASDAQ:PODD traded up $1.33 on Friday, hitting $260.71. 465,370 shares of the company's stock were exchanged, compared to its average volume of 739,378. Insulet Co. has a 1-year low of $160.19 and a 1-year high of $289.46. The company has a market capitalization of $18.31 billion, a PE ratio of 45.03, a P/E/G ratio of 3.62 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm's 50-day moving average is $260.61 and its 200 day moving average is $261.27.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Sell-side analysts predict that Insulet Co. will post 3.92 EPS for the current year.

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.