Rhumbline Advisers Cuts Stock Holdings in Insulet Co. (NASDAQ:PODD)

Rhumbline Advisers reduced its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,747 shares of the medical instruments supplier's stock after selling 2,242 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Insulet worth $37,267,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of Insulet by 84.1% in the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Venturi Wealth Management LLC grew its position in Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock worth $36,000 after purchasing an additional 133 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Insulet by 32.6% in the 3rd 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 Insulet in the 4th quarter valued at about $57,000. Finally, Versant Capital Management Inc lifted its position in shares of Insulet by 106.1% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier's stock worth $80,000 after buying an additional 157 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PODD shares. Morgan Stanley upped their target price on Insulet from $234.00 to $317.00 and gave the company an "overweight" rating in a report on Monday, November 11th. BTIG Research raised their target price on Insulet from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Sanford C. Bernstein began coverage on Insulet in a research note on Wednesday, November 6th. They set an "outperform" rating and a $300.00 target price on the stock. Piper Sandler raised their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday. Finally, TD Cowen increased their target price on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $289.06.

Insulet Price Performance

Shares of NASDAQ:PODD traded down $5.49 during trading on Friday, reaching $282.80. The company had a trading volume of 1,410,492 shares, compared to its average volume of 573,663. The company has a fifty day moving average of $272.71 and a two-hundred day moving average of $246.47. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $19.84 billion, a P/E ratio of 48.42, a price-to-earnings-growth ratio of 3.56 and a beta of 1.23. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 27.98% and a net margin of 21.22%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Equities research analysts forecast that Insulet Co. will post 3.22 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Eric Benjamin sold 12,394 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren Budden sold 915 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the transaction, the chief accounting officer now directly owns 5,733 shares in the company, valued at $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

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.