Ensign Peak Advisors Inc Sells 6,500 Shares of Insulet Co. (NASDAQ:PODD)

Ensign Peak Advisors Inc reduced its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,865 shares of the medical instruments supplier's stock after selling 6,500 shares during the quarter. Ensign Peak Advisors Inc owned about 0.09% of Insulet worth $16,673,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Horizon Investments LLC lifted its holdings in Insulet by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock valued at $362,000 after purchasing an additional 42 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Insulet by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock worth $1,146,000 after buying an additional 43 shares in the last quarter. Graypoint LLC raised its stake in shares of Insulet by 5.3% in the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 47 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Insulet by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock worth $140,000 after acquiring an additional 47 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Insulet by 2.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PODD. Raymond James reiterated an "outperform" rating and issued a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Canaccord Genuity Group upped their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wolfe Research lowered shares of Insulet from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 29th. Stifel Nicolaus boosted their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Finally, Piper Sandler increased their price target on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $303.81.

Insider Activity at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the business'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 value 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. The trade was a 36.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Insulet Stock Up 20.8%

NASDAQ:PODD opened at $310.42 on Monday. The stock's fifty day simple moving average is $257.45 and its 200-day simple moving average is $263.88. The firm has a market capitalization of $21.84 billion, a P/E ratio of 53.61, a P/E/G ratio of 3.62 and a beta of 1.26. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $312.80.

Insulet (NASDAQ:PODD - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, beating the consensus estimate of $0.81 by $0.21. The firm had revenue of $569.00 million during 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 business's quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Equities research 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.

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