Insulet Corporation (NASDAQ:PODD) Stake Cut by Blair William & Co. IL

Key Points

• Blair William & Co. IL has reduced its stake in Insulet Corporation by 3.3%, now holding 177,279 shares valued at approximately $46.6 million.
• Goldman Sachs Group has initiated coverage on Insulet with a "buy" rating and a price target of $380.00, while Wells Fargo has set a lower target of $322.00.
• Insulet recently reported a 28.8% increase in quarterly revenue year-over-year, achieving earnings per share of $1.02, exceeding expectations of $0.81.

Blair William & Co. IL cut its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,279 shares of the medical instruments supplier's stock after selling 6,006 shares during the quarter. Blair William & Co. IL owned 0.25% of Insulet worth $46,555,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cumberland Partners Ltd acquired a new stake in Insulet in the first quarter worth $1,707,000. PNC Financial Services Group Inc. increased its position in Insulet by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,361 shares of the medical instruments supplier's stock worth $3,509,000 after buying an additional 333 shares during the period. Commerce Bank increased its position in Insulet by 239.4% in the first quarter. Commerce Bank now owns 13,192 shares of the medical instruments supplier's stock worth $3,464,000 after buying an additional 9,305 shares during the period. Alberta Investment Management Corp increased its position in Insulet by 144.1% in the first quarter. Alberta Investment Management Corp now owns 8,300 shares of the medical instruments supplier's stock worth $2,180,000 after buying an additional 4,900 shares during the period. Finally, Natixis Advisors LLC increased its position in Insulet by 33.9% in the first quarter. Natixis Advisors LLC now owns 59,412 shares of the medical instruments supplier's stock worth $15,602,000 after buying an additional 15,041 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Insulet in a research note on Friday, May 30th. They issued a "buy" rating and a $380.00 price target for the company. Wall Street Zen lowered Insulet from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $322.00 price target on Insulet in a report on Monday, April 28th. Barclays raised their price target on Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Insulet in a report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Insulet currently has an average rating of "Moderate Buy" and a consensus target price of $321.00.

Insulet Trading Down 1.2%

Shares of PODD opened at $284.91 on Monday. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33. The stock has a market capitalization of $20.05 billion, a P/E ratio of 51.24, a P/E/G ratio of 2.54 and a beta of 1.35. The company has a current ratio of 4.47, a quick ratio of 3.63 and a debt-to-equity ratio of 1.21. The business's 50-day moving average price is $302.39 and its 200 day moving average price is $282.56.

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

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the firm's stock in a transaction dated 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 directly owned 23,180 shares in the company, valued at approximately $7,382,134.60. This trade represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company's stock.

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.

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