S&CO Inc. Decreases Stake in Insulet Corporation (NASDAQ:PODD)

Key Points

• S&CO Inc. has reduced its stake in Insulet Corporation (NASDAQ:PODD) by 14.2%, selling 2,010 shares and holding 12,155 shares worth approximately $3.19 million as of the latest SEC filing.
• Insulet reported $1.02 EPS in its recent earnings, exceeding expectations by 21 cents, with quarterly revenue increasing by 28.8% year-over-year to $569 million.
• Equities analysts remain positive, with multiple firms setting new price targets for Insulet, including $360 by Raymond James and $380 by Goldman Sachs, reflecting a consensus rating of "Moderate Buy."

S&CO Inc. lowered its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,155 shares of the medical instruments supplier's stock after selling 2,010 shares during the quarter. S&CO Inc.'s holdings in Insulet were worth $3,192,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in Insulet by 426.3% during the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after buying an additional 81 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Insulet during the fourth quarter worth about $42,000. Ramirez Asset Management Inc. purchased a new position in Insulet during the first quarter worth about $53,000. Golden State Wealth Management LLC boosted its stake in Insulet by 553.1% during the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after buying an additional 177 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in Insulet by 114.7% during the first quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock worth $65,000 after buying an additional 133 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Insulet from $312.00 to $324.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Sanford C. Bernstein reissued an "outperform" rating on shares of Insulet in a research report on Friday, May 16th. Barclays increased their price target on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Raymond James Financial reissued 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, Wall Street Zen downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $321.00.

Insider Activity at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Insulet Stock Performance

NASDAQ:PODD traded down $3.49 during midday trading on Friday, reaching $284.91. The stock had a trading volume of 559,280 shares, compared to its average volume of 764,126. The firm has a fifty day simple moving average of $303.12 and a two-hundred day simple moving average of $282.24. Insulet Corporation has a 12-month low of $173.00 and a 12-month high of $329.33. The company has a quick ratio of 3.63, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. The stock has a market cap of $20.05 billion, a P/E ratio of 51.24, a P/E/G ratio of 2.66 and a beta of 1.35.

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

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.