Bessemer Group Inc. Sells 11,565 Shares of Insulet Corporation (NASDAQ:PODD)

Bessemer Group Inc. decreased its holdings in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 59.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,794 shares of the medical instruments supplier's stock after selling 11,565 shares during the period. Bessemer Group Inc.'s holdings in Insulet were worth $2,047,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PODD. Horizon Investments LLC raised its position in shares of 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 buying an additional 42 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Insulet by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after acquiring an additional 48 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Insulet by 5.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,050 shares of the medical instruments supplier's stock valued at $274,000 after purchasing an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Insulet by 2.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,170 shares of the medical instruments supplier's stock worth $566,000 after purchasing an additional 50 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Insulet by 4.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,092 shares of the medical instruments supplier's stock worth $285,000 after purchasing an additional 51 shares in the last quarter.

Analyst Upgrades and Downgrades

PODD has been the topic of a number of research reports. Truist Financial initiated coverage on Insulet in a report on Monday, June 16th. They set a "buy" rating and a $365.00 price objective on the stock. Royal Bank Of Canada assumed coverage on shares of Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $360.00 price objective (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Citigroup reaffirmed a "buy" rating and set a $380.00 target price (up previously from $320.00) on shares of Insulet in a report on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $321.00.

Insulet Price Performance

Shares of Insulet stock opened at $313.08 on Friday. The business has a 50 day moving average of $297.69 and a 200 day moving average of $277.64. Insulet Corporation has a 52 week low of $173.00 and a 52 week high of $329.33. The company has a market cap of $22.03 billion, a PE ratio of 56.31, a P/E/G ratio of 2.79 and a beta of 1.37. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 EPS for the quarter, topping the consensus estimate of $0.81 by $0.21. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. Insulet had a net margin of 18.29% and a return on equity of 22.25%. The company's revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. As a group, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Transactions at Insulet

In related news, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president now directly owns 23,180 shares in the company, valued at $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Insulet Company 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.

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