DnB Asset Management AS Raises Position in Insulet Co. (NASDAQ:PODD)

DnB Asset Management AS lifted its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,565 shares of the medical instruments supplier's stock after acquiring an additional 3,370 shares during the period. DnB Asset Management AS owned 0.09% of Insulet worth $16,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier's stock worth $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC increased its holdings in shares of Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after buying an additional 42 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Insulet by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after buying an additional 43 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier's stock valued at $484,000 after buying an additional 47 shares during the period. Finally, Graypoint LLC lifted its holdings in Insulet by 5.3% in the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 47 shares during the last quarter.

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Insulet Stock Performance

Shares of PODD stock traded up $3.35 during mid-day trading on Wednesday, hitting $266.53. 332,804 shares of the stock were exchanged, compared to its average volume of 705,002. The stock's fifty day simple moving average is $271.17 and its two-hundred day simple moving average is $259.40. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $582.02 million. On average, analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company's stock, 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 this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on PODD shares. Citigroup lifted their target price on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. TD Cowen boosted their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Canaccord Genuity Group increased 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. Stifel Nicolaus raised their price target on Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Finally, Raymond James restated an "outperform" rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and an average target price of $292.06.

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.