Fisher Asset Management LLC Sells 59,703 Shares of Insulet Co. (NASDAQ:PODD)

Fisher Asset Management LLC reduced its position in shares of Insulet Co. (NASDAQ:PODD) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 344,159 shares of the medical instruments supplier’s stock after selling 59,703 shares during the period. Fisher Asset Management LLC owned about 0.49% of Insulet worth $74,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Consolidated Portfolio Review Corp increased its holdings in Insulet by 1.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 3,713 shares of the medical instruments supplier’s stock valued at $806,000 after purchasing an additional 57 shares during the last quarter. FourThought Financial Partners LLC raised its stake in Insulet by 1.4% in the fourth quarter. FourThought Financial Partners LLC now owns 4,461 shares of the medical instruments supplier’s stock valued at $968,000 after buying an additional 61 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of Insulet by 1.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 5,817 shares of the medical instruments supplier’s stock valued at $1,262,000 after purchasing an additional 73 shares during the last quarter. Lindbrook Capital LLC grew its stake in Insulet by 64.1% in the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Insulet by 3.6% during the fourth quarter. Avior Wealth Management LLC now owns 2,645 shares of the medical instruments supplier’s stock worth $574,000 after purchasing an additional 91 shares during the period.

Insider Transactions at Insulet

In other news, SVP Mark N. Field sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the transaction, the senior vice president now owns 14,375 shares in the company, valued at approximately $2,737,431.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the transaction, the director now owns 35,586 shares in the company, valued at $6,779,488.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark N. Field sold 2,131 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.43, for a total value of $405,806.33. Following the completion of the sale, the senior vice president now directly owns 14,375 shares of the company’s stock, valued at $2,737,431.25. The disclosure for this sale can be found here. Insiders sold a total of 12,431 shares of company stock worth $2,336,346 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on PODD. Piper Sandler dropped their target price on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, May 7th. Canaccord Genuity Group increased their target price on Insulet from $226.00 to $234.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Jefferies Financial Group raised their price target on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Redburn Atlantic began coverage on Insulet in a report on Thursday, May 30th. They set a “buy” rating and a $235.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.18.

Insulet Price Performance

Shares of NASDAQ PODD opened at $200.45 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The firm’s 50-day simple moving average is $177.68 and its 200 day simple moving average is $185.82. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 3.61 and a beta of 1.15. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $298.95.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.34. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The company had revenue of $441.70 million for the quarter, compared to analyst estimates of $424.05 million. During the same quarter last year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that Insulet Co. will post 3.11 earnings per share for the current fiscal 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.