Ayrshire Capital Management LLC Sells 13,878 Shares of Insulet Corporation $PODD

Key Points

• Ayrshire Capital Management cut its Insulet holding by 73.3%, selling 13,878 shares and leaving 5,064 shares worth about $1.44 million.
• Insider purchase: Director Michael R. Minogue bought 2,030 shares at roughly $246.23 on Feb. 25, increasing his stake to 17,483 shares (a 13.14% rise), signaling insider confidence.
• While several analysts have lowered price targets (examples: BTIG to $320, Oppenheimer to $300), Insulet still carries a consensus "Moderate Buy" and $334.38 target after reporting a Q1 beat (EPS $1.55 vs. $1.48; revenue $783.8M, +31.2% YoY).

Ayrshire Capital Management LLC decreased its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 73.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,064 shares of the medical instruments supplier's stock after selling 13,878 shares during the period. Ayrshire Capital Management LLC's holdings in Insulet were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PODD. True Wealth Design LLC increased its stake in shares of Insulet by 288.0% in the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Insulet by 48.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier's stock valued at $40,000 after buying an additional 43 shares in the last quarter. Quent Capital LLC acquired a new stake in Insulet in the third quarter valued at about $49,000. Measured Wealth Private Client Group LLC bought a new position in Insulet in the third quarter valued at about $49,000. Finally, Osterweis Capital Management Inc. acquired a new position in Insulet during the second quarter worth about $51,000.

Insiders Place Their Bets

In other news, Director Michael R. Minogue purchased 2,030 shares of the stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares in the company, valued at $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PODD. BTIG Research dropped their target price on shares of Insulet from $380.00 to $320.00 and set a "buy" rating for the company in a report on Monday, April 13th. Oppenheimer lowered their price objective on shares of Insulet from $365.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Insulet from $415.00 to $340.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Sanford C. Bernstein cut their target price on shares of Insulet from $380.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Finally, Truist Financial decreased their target price on shares of Insulet from $360.00 to $315.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Insulet currently has a consensus rating of "Moderate Buy" and a consensus target price of $334.38.

Insulet Stock Up 0.7%

Shares of PODD opened at $193.62 on Thursday. The stock's 50-day moving average price is $224.26 and its two-hundred day moving average price is $273.13. Insulet Corporation has a 12 month low of $191.02 and a 12 month high of $354.88. The company has a market capitalization of $13.41 billion, a PE ratio of 55.32, a PEG ratio of 1.15 and a beta of 1.47. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The company had revenue of $783.80 million during the quarter, compared to analysts' expectations of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business's quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share. On average, analysts anticipate that Insulet Corporation will post 6.16 EPS for the current year.

About Insulet

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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