Harbor Capital Advisors Inc. Sells 1,243 Shares of Insulet Co. (NASDAQ:PODD)

Harbor Capital Advisors Inc. decreased its position in Insulet Co. (NASDAQ:PODD - Free Report) by 87.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176 shares of the medical instruments supplier's stock after selling 1,243 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Insulet were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PODD. Empowered Funds LLC grew its stake in shares of Insulet by 357.4% in the 4th quarter. Empowered Funds LLC now owns 4,327 shares of the medical instruments supplier's stock worth $1,130,000 after acquiring an additional 3,381 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Insulet by 2.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 26,766 shares of the medical instruments supplier's stock worth $7,096,000 after acquiring an additional 605 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Insulet by 4.3% in the 4th quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier's stock worth $633,000 after acquiring an additional 100 shares in the last quarter. Banque Pictet & Cie SA bought a new stake in shares of Insulet in the 4th quarter worth $287,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Insulet in the 4th quarter worth $208,000.

Insider Buying and Selling at Insulet

In other 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 shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of 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 can be accessed through this hyperlink. Also, SVP John W. Kapples sold 5,278 shares of the business's 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 completion of the sale, the senior vice president now owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Insulet Price Performance

PODD stock opened at $304.63 on Monday. The firm has a 50 day moving average of $287.15 and a 200-day moving average of $275.06. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $173.00 and a 12 month high of $329.33. The firm has a market capitalization of $21.44 billion, a P/E ratio of 52.61, a price-to-earnings-growth ratio of 3.62 and a beta of 1.37.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. During the same period in the previous year, the business posted $0.73 earnings per share. Insulet's revenue for the quarter was up 28.8% on a year-over-year basis. As a group, sell-side analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PODD. Wall Street Zen lowered shares of Insulet from a "buy" rating to a "hold" rating in a research report on Saturday. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. 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 report on Friday, February 21st. Raymond James restated an "outperform" rating and set a $360.00 price target (up previously from $328.00) on shares of Insulet in a research report on Tuesday, May 27th. Finally, Citigroup restated a "buy" rating and set a $380.00 price target (up previously from $320.00) on shares of Insulet in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $318.41.

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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