Insulet Corporation (NASDAQ:PODD) Stock Position Reduced by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Insulet Corporation by 2.9%, owning 36,400 shares valued at approximately $9.56 million after selling 1,100 shares.
• Insulet's recent quarterly earnings reported an EPS of $1.17, surpassing expectations by $0.25, with revenue increasing 32.9% year-over-year to $649.10 million.
• Analysts maintain a generally positive outlook on Insulet, with an average rating of "Moderate Buy" and a consensus target price of $330.71.

Forsta AP Fonden lessened its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,400 shares of the medical instruments supplier's stock after selling 1,100 shares during the period. Forsta AP Fonden owned about 0.05% of Insulet worth $9,559,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia lifted its stake in Insulet by 18.2% in the fourth quarter. Bank of Nova Scotia now owns 7,982 shares of the medical instruments supplier's stock valued at $2,084,000 after buying an additional 1,231 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Insulet by 0.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,537 shares of the medical instruments supplier's stock worth $8,233,000 after buying an additional 140 shares in the last quarter. Qtron Investments LLC bought a new stake in shares of Insulet in the 4th quarter worth $739,000. Townsquare Capital LLC raised its stake in shares of Insulet by 9.7% in the 4th quarter. Townsquare Capital LLC now owns 17,102 shares of the medical instruments supplier's stock worth $4,465,000 after buying an additional 1,515 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in shares of Insulet in the 4th quarter worth $256,000.

Insulet Stock Up 1.2%

Shares of NASDAQ:PODD opened at $307.10 on Friday. The company has a fifty day moving average of $299.12 and a 200-day moving average of $283.03. The company has a market capitalization of $21.61 billion, a PE ratio of 93.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.63 and a current ratio of 2.26. Insulet Corporation has a 52-week low of $173.00 and a 52-week high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.25. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The company had revenue of $649.10 million for the quarter, compared to analysts' expectations of $612.31 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Insulet's revenue for the quarter was up 32.9% on a year-over-year basis. On average, equities analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the company'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 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

PODD has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Insulet in a report on Friday, May 30th. They issued a "buy" rating and a $380.00 target price on the stock. Royal Bank Of Canada boosted their target price on Insulet from $330.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday. Canaccord Genuity Group boosted their target price on Insulet from $331.00 to $353.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen raised Insulet from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Barclays boosted their price objective on Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $330.71.

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.

Want to see what other hedge funds are holding PODD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insulet Corporation (NASDAQ:PODD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.