Norges Bank Takes $248.81 Million Position in Insulet Co. (NASDAQ:PODD)

Norges Bank purchased a new stake in shares of Insulet Co. (NASDAQ:PODD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 953,024 shares of the medical instruments supplier's stock, valued at approximately $248,806,000. Norges Bank owned about 1.36% of Insulet at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. purchased a new position in shares of Insulet during the 4th quarter worth about $36,000. SRS Capital Advisors Inc. boosted its position in shares of Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after buying an additional 56 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Insulet by 32.6% during 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 during the last quarter. Friedenthal Financial purchased a new stake in shares of Insulet in the fourth quarter worth approximately $57,000. Finally, Assetmark Inc. lifted its stake in shares of Insulet by 1,447.1% during the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after acquiring an additional 246 shares during the last quarter.

Insulet Stock Down 6.4 %

Shares of PODD stock traded down $17.26 during mid-day trading on Thursday, hitting $251.87. 241,761 shares of the stock traded hands, compared to its average volume of 718,550. 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 $17.69 billion, a P/E ratio of 43.50, a P/E/G ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock's fifty day moving average is $270.97 and its two-hundred day moving average is $259.47.

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Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. The company had revenue of $597.50 million during 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%. Equities analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Analyst Ratings Changes

PODD has been the topic of a number of recent analyst reports. TD Cowen increased their target price on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target for the company. Finally, Raymond James reiterated 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. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $292.06.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction 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 completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was 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 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.