BNP Paribas Financial Markets Sells 364,752 Shares of Insulet Co. (NASDAQ:PODD)

BNP Paribas Financial Markets lessened its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 74.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,439 shares of the medical instruments supplier's stock after selling 364,752 shares during the quarter. BNP Paribas Financial Markets owned 0.18% of Insulet worth $33,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new stake in Insulet in the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. bought a new stake in Insulet during the 4th quarter valued at $42,000. SRS Capital Advisors Inc. boosted its position in Insulet by 43.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after buying an additional 56 shares during the period. Friedenthal Financial bought a new stake in Insulet in the 4th quarter worth $57,000. Finally, Assetmark Inc. increased its position in shares of Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after acquiring an additional 246 shares during the period.

Analyst Upgrades and Downgrades

PODD has been the subject of several research analyst reports. Oppenheimer increased their price objective on Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a report on Friday. Royal Bank of Canada began coverage on shares of Insulet in a research note on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price target for the company. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Raymond James reaffirmed an "outperform" rating and issued a $328.00 price target (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Finally, Piper Sandler raised their price objective on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $303.81.

Insulet Stock Performance

Shares of Insulet stock traded up $53.42 during trading hours on Friday, reaching $310.42. 3,214,360 shares of the stock traded hands, compared to its average volume of 712,823. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 53.61, a P/E/G ratio of 3.62 and a beta of 1.26. The company has a 50 day moving average price of $257.45 and a 200 day moving average price of $263.88. Insulet Co. has a one year low of $160.19 and a one year high of $312.16.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company's revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

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.