Legal & General Group Plc Decreases Stock Holdings in Insulet Co. (NASDAQ:PODD)

Legal & General Group Plc cut its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 29.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 320,441 shares of the medical instruments supplier's stock after selling 136,282 shares during the period. Legal & General Group Plc owned about 0.46% of Insulet worth $83,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PODD. SBI Securities Co. Ltd. bought a new stake in shares of Insulet in the fourth quarter valued at about $36,000. SRS Capital Advisors Inc. grew its position in shares of Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock worth $49,000 after purchasing an additional 56 shares in the last quarter. Friedenthal Financial bought a new position in shares of Insulet during the fourth quarter worth approximately $57,000. TD Private Client Wealth LLC raised its position in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock valued at $53,000 after buying an additional 56 shares in the last quarter. Finally, Assetmark Inc. grew its position in Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after buying an additional 246 shares in the last quarter.

Insulet Price Performance

Shares of Insulet stock traded down $5.69 during trading on Wednesday, reaching $250.73. 730,721 shares of the stock traded hands, compared to its average volume of 717,226. The business has a fifty day simple moving average of $265.46 and a two-hundred day simple moving average of $260.69. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 43.30, a P/E/G ratio of 3.62 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

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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 the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Sell-side analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the company'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 transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company's stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

PODD has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Royal Bank of Canada initiated coverage on Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective on the stock. Raymond James reissued an "outperform" rating and issued a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Wells Fargo & Company upped their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, StockNews.com cut shares of Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Insulet has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

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.