Insulet Corporation (NASDAQ:PODD) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Insulet Corporation by 4.5%, leaving them with 2,250,755 shares worth approximately $591 million.
• Insulet's recent earnings report showed a 28.8% year-over-year revenue increase with an EPS of $1.02, surpassing analyst expectations.
• Analysts have set a consensus price target of $321 for Insulet, with multiple upgrades, reflecting strong confidence in its future performance.

Baillie Gifford & Co. lowered its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,250,755 shares of the medical instruments supplier's stock after selling 104,928 shares during the period. Baillie Gifford & Co. owned approximately 3.20% of Insulet worth $591,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Insulet by 426.3% in the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier's stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Insulet in the fourth quarter worth about $42,000. Golden State Wealth Management LLC lifted its stake in Insulet by 553.1% in the first quarter. Golden State Wealth Management LLC now owns 209 shares of the medical instruments supplier's stock worth $55,000 after purchasing an additional 177 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Insulet by 114.7% during the first quarter. GW&K Investment Management LLC now owns 249 shares of the medical instruments supplier's stock valued at $65,000 after acquiring an additional 133 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its stake in shares of Insulet by 135.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 282 shares of the medical instruments supplier's stock valued at $74,000 after acquiring an additional 162 shares in the last quarter.

Insulet Stock Up 1.3%

Shares of PODD stock traded up $3.64 during trading hours on Friday, reaching $290.22. 528,135 shares of the company's stock were exchanged, compared to its average volume of 578,892. The stock's 50 day moving average is $305.68 and its 200-day moving average is $281.70. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 52.20, a P/E/G ratio of 2.59 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. Insulet Corporation has a fifty-two week low of $173.00 and a fifty-two week high of $329.33.

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

Insider Activity

In other news, SVP John W. Kapples sold 5,278 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 23,180 shares of the company's stock, valued at approximately $7,382,134.60. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PODD. Barclays lifted their price target on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Insulet in a research note on Tuesday, July 8th. Wolfe Research raised shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target for the company in a research note on Tuesday, May 13th. Raymond James Financial reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Finally, Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $321.00.

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.