Royal London Asset Management Ltd. Acquires 2,572 Shares of Insulet Co. (NASDAQ:PODD)

Royal London Asset Management Ltd. increased its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,283 shares of the medical instruments supplier's stock after buying an additional 2,572 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Insulet were worth $8,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new position in Insulet in the fourth quarter valued at approximately $603,000. Chesapeake Capital Corp IL acquired a new stake in shares of Insulet during the fourth quarter worth $422,000. Intech Investment Management LLC lifted its position in Insulet by 219.4% in the 4th quarter. Intech Investment Management LLC now owns 3,073 shares of the medical instruments supplier's stock valued at $802,000 after acquiring an additional 2,111 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Insulet in the 4th quarter worth $3,264,000. Finally, Horizon Investments LLC boosted its stake in Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after purchasing an additional 42 shares during the period.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. TD Cowen upped their price target on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $292.06.

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Insulet Stock Performance

NASDAQ PODD traded down $2.71 during trading on Tuesday, reaching $271.34. 375,205 shares of the company's stock were exchanged, compared to its average volume of 690,203. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The stock has a market capitalization of $19.05 billion, a P/E ratio of 46.82, a PEG ratio of 3.62 and a beta of 1.29. The business has a 50 day moving average price of $272.16 and a 200-day moving average price of $257.78. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The business had revenue of $597.50 million for the quarter, compared to analysts' expectations of $582.02 million. Sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction that occurred 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 $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

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.