Sterling Capital Management LLC Sells 4,465 Shares of Insulet Co. (NASDAQ:PODD)

Sterling Capital Management LLC lowered its position in Insulet Co. (NASDAQ:PODD - Free Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,971 shares of the medical instruments supplier's stock after selling 4,465 shares during the period. Sterling Capital Management LLC's holdings in Insulet were worth $5,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Captrust Financial Advisors raised its position in Insulet by 5.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,760 shares of the medical instruments supplier's stock valued at $410,000 after purchasing an additional 86 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Insulet by 14.6% in the third quarter. Janus Henderson Group PLC now owns 7,335 shares of the medical instruments supplier's stock valued at $1,706,000 after buying an additional 935 shares during the last quarter. Stifel Financial Corp lifted its position in Insulet by 2.8% during the 3rd quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier's stock worth $2,450,000 after buying an additional 290 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Insulet by 86.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock valued at $1,822,000 after acquiring an additional 3,623 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Insulet by 9.3% in the third quarter. MML Investors Services LLC now owns 2,655 shares of the medical instruments supplier's stock worth $618,000 after acquiring an additional 225 shares during the last quarter.

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Insulet Stock Up 0.4 %

NASDAQ PODD traded up $0.95 during trading hours on Tuesday, reaching $256.42. 542,491 shares of the company's stock were exchanged, compared to its average volume of 717,169. 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 company has a market capitalization of $18.01 billion, a price-to-earnings ratio of 44.29, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company's 50-day moving average is $266.08 and its two-hundred day moving average is $260.72. Insulet Co. has a one year low of $160.19 and a one year high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. On average, analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on PODD. Canaccord Genuity Group increased their price objective on Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Royal Bank of Canada began coverage on Insulet in a research report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective for the company. StockNews.com downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Four investment 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

Insider Transactions at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction 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 represents a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares of the company's stock, valued at $888,525. This represents 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 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.