Insulet Co. (NASDAQ:PODD) Stake Trimmed by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC reduced its stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 88.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,570 shares of the medical instruments supplier's stock after selling 20,605 shares during the period. Grandeur Peak Global Advisors LLC's holdings in Insulet were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. SBI Securities Co. Ltd. purchased a new stake in Insulet during the fourth quarter worth about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 acquiring an additional 1,942 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock worth $1,822,000 after acquiring an additional 3,623 shares during the period. Stifel Financial Corp increased its stake in Insulet by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier's stock valued at $2,450,000 after purchasing an additional 290 shares in the last quarter. Finally, Ayrshire Capital Management LLC raised its holdings in Insulet by 34.6% during the fourth quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier's stock worth $6,001,000 after purchasing an additional 5,911 shares during the last quarter.

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Insider Activity at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction 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 directly owns 3,231 shares of the company's stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PODD. Canaccord Genuity Group lifted their price target on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Raymond James restated an "outperform" rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. 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. Finally, Royal Bank of Canada began coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Insulet currently has an average rating of "Moderate Buy" and a consensus target price of $292.06.

Insulet Stock Up 0.4 %

Shares of PODD traded up $0.95 during midday trading on Tuesday, hitting $256.42. The company had a trading volume of 542,491 shares, compared to its average volume of 717,169. The company's 50 day moving average price is $265.46 and its 200 day moving average price is $260.69. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 3.62 and a beta of 1.30. 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 (NASDAQ:PODD - Get Free Report) last posted 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. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, equities research analysts predict that Insulet Co. will post 3.92 EPS for the current year.

About Insulet

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.