Clearbridge Investments LLC Lowers Holdings in Insulet Co. (NASDAQ:PODD)

Clearbridge Investments LLC lowered its holdings in shares of Insulet Co. (NASDAQ:PODD) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,406,353 shares of the medical instruments supplier’s stock after selling 62,732 shares during the quarter. Clearbridge Investments LLC’s holdings in Insulet were worth $367,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Insulet during the 4th quarter valued at approximately $36,000. SRS Capital Advisors Inc. grew its stake in 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 acquiring an additional 56 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after buying an additional 56 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Insulet in the fourth quarter valued at $57,000. Finally, Assetmark Inc. increased its holdings in shares of Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 246 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on PODD shares. Citigroup increased 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. Canaccord Genuity Group boosted their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and issued a $328.00 price objective (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Royal Bank of Canada began coverage on shares of Insulet in a research report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price objective for the company. Finally, Piper Sandler raised their price target on shares of Insulet from $285.00 to $310.00 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of Insulet 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 transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction 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. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Insulet Trading Down 0.6 %

NASDAQ PODD opened at $258.75 on Friday. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The firm has a market cap of $18.17 billion, a PE ratio of 44.69, a P/E/G ratio of 3.62 and a beta of 1.29. The firm’s fifty day moving average is $271.69 and its two-hundred day moving average is $258.75. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD) last released 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. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

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.