Primecap Management Co. CA Decreases Stock Position in Insulet Co. (NASDAQ:PODD)

Primecap Management Co. CA lessened its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 493,218 shares of the medical instruments supplier's stock after selling 58,880 shares during the period. Primecap Management Co. CA owned about 0.70% of Insulet worth $128,764,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Counterpoint Mutual Funds LLC acquired a new position in shares of Insulet during the fourth quarter worth $297,000. Cibc World Markets Corp increased its holdings in Insulet by 46.1% in the 4th quarter. Cibc World Markets Corp now owns 13,851 shares of the medical instruments supplier's stock worth $3,616,000 after purchasing an additional 4,368 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Insulet by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Insulet in the fourth quarter valued at approximately $131,000. Finally, Natixis Advisors LLC boosted its position in Insulet by 33.8% during the 4th quarter. Natixis Advisors LLC now owns 44,371 shares of the medical instruments supplier's stock worth $11,584,000 after buying an additional 11,210 shares during the period.

Insider Transactions at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction dated 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 owns 11,383 shares in the company, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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Wall Street Analysts Forecast Growth

PODD has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Piper Sandler upped their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Citigroup boosted their target price on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a report on Friday, February 21st. TD Cowen raised 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. Finally, JPMorgan Chase & Co. boosted their price target on Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $292.06.

Insulet Stock Up 1.1 %

NASDAQ:PODD traded up $2.93 on Friday, hitting $268.32. The stock had a trading volume of 1,299,442 shares, compared to its average volume of 690,091. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46. The firm's fifty day simple moving average is $272.04 and its two-hundred day simple moving average is $256.71. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a market cap of $18.84 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 24.46% and a net margin of 20.19%. Analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

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.