Geode Capital Management LLC Has $463.35 Million Stake in Insulet Co. (NASDAQ:PODD)

Geode Capital Management LLC boosted its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,779,167 shares of the medical instruments supplier's stock after acquiring an additional 40,566 shares during the quarter. Geode Capital Management LLC owned approximately 2.54% of Insulet worth $463,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PODD. Norges Bank acquired a new stake in shares of Insulet in the fourth quarter worth about $248,806,000. Raymond James Financial Inc. bought a new position in shares of Insulet in the 4th quarter valued at approximately $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new stake in Insulet in the 4th quarter worth approximately $53,184,000. Artisan Partners Limited Partnership boosted its position in Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Insulet during the fourth quarter valued at approximately $28,422,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PODD. Royal Bank of Canada assumed coverage on shares of Insulet in a research report on Thursday, March 6th. They set an "outperform" rating and a $340.00 target price for the company. Stifel Nicolaus upped their price target on Insulet from $245.00 to $293.00 and gave the stock a "hold" 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 report on Friday, February 21st. Citigroup raised their price target on shares of Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company upped their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research 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. According to data from MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and an average target price of $292.06.

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Insider Buying and Selling

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 shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of 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 position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Insulet Price Performance

NASDAQ:PODD traded up $17.68 on Wednesday, reaching $264.72. The stock had a trading volume of 1,527,612 shares, compared to its average volume of 718,332. The company has a market capitalization of $18.59 billion, a P/E ratio of 45.72, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The stock has a fifty day moving average price of $267.71 and a 200-day moving average price of $260.19. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 1-year low of $160.19 and a 1-year 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. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Research analysts forecast that Insulet Co. will post 3.92 EPS for the current 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.