Insulet Co. (NASDAQ:PODD) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 20.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the medical instruments supplier's stock after selling 2,327 shares during the period. Corient Private Wealth LLC's holdings in Insulet were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 boosted its holdings in Insulet by 30.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Fisher Asset Management LLC grew its stake in Insulet by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier's stock worth $81,719,000 after purchasing an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Insulet by 86.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock worth $1,822,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Insulet by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier's stock worth $35,708,000 after purchasing an additional 8,301 shares during the period.

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Analyst Ratings Changes

A number of equities analysts have recently commented on PODD shares. Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Citigroup raised their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com cut Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

Insider Buying and Selling at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction on Tuesday, March 25th. The stock was 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 of the company's stock, valued at approximately $888,525. This represents 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 owned by company insiders.

Insulet Stock Performance

Shares of PODD stock traded down $4.61 during trading hours on Thursday, hitting $260.27. The stock had a trading volume of 636,814 shares, compared to its average volume of 691,277. The stock's 50 day moving average is $272.28 and its 200 day moving average is $258.24. The firm has a market capitalization of $18.28 billion, a PE ratio of 44.95, a PEG ratio of 3.62 and a beta of 1.29. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. As a group, research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.