Clearbridge Investments LLC Has $367.16 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

Clearbridge Investments LLC trimmed its position in Insulet Co. (NASDAQ:PODD - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,406,353 shares of the medical instruments supplier's stock after selling 62,732 shares during the period. Clearbridge Investments LLC owned about 2.00% of Insulet worth $367,157,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PODD. Baillie Gifford & Co. boosted its stake in Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after acquiring an additional 79,982 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Insulet by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier's stock worth $403,339,000 after purchasing an additional 22,850 shares during the last quarter. Norges Bank acquired a new stake in shares of Insulet during the fourth quarter worth $248,806,000. Artisan Partners Limited Partnership increased its holdings in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after purchasing an additional 149,524 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insulet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock valued at $168,902,000 after buying an additional 10,694 shares during the period.

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Insulet Stock Performance

Shares of Insulet stock traded down $16.62 on Thursday, hitting $252.51. The stock had a trading volume of 413,364 shares, compared to its average volume of 706,005. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The business's 50 day moving average is $270.97 and its two-hundred day moving average is $259.47. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46.

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

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the company's 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 completion of the transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now directly owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PODD shares. Canaccord Genuity Group boosted their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company upped their target price on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Piper Sandler boosted their price target on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada started coverage on Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target for the company. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $292.06.

Insulet 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.