Korea Investment CORP Sells 17,419 Shares of Insulet Corporation $PODD

Key Points

• Korea Investment CORP cut its stake in Insulet by 24.2%, selling 17,419 shares and leaving it with 54,571 shares worth about $16.85 million (≈0.08% ownership) after the 3rd quarter.
• Director Michael R. Minogue purchased 2,030 shares at an average $246.23 on Feb 25, raising his holding to 17,483 shares (a 13.14% increase), indicating insider buying.
• Insulet beat Q1 estimates with EPS $1.55 (vs. $1.48 expected) and revenue $783.8M (up 31.2% YoY), and analysts maintain a consensus "Moderate Buy" with a $354.57 price target.

Korea Investment CORP cut its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 24.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,571 shares of the medical instruments supplier's stock after selling 17,419 shares during the period. Korea Investment CORP owned about 0.08% of Insulet worth $16,848,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sage Mountain Advisors LLC raised its position in Insulet by 4.6% during the third quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier's stock valued at $229,000 after purchasing an additional 33 shares in the last quarter. Curi Capital LLC boosted its holdings in shares of Insulet by 0.8% in the 2nd quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier's stock worth $1,365,000 after purchasing an additional 36 shares in the last quarter. Evelyn Partners Investment Management Services Ltd increased its position in shares of Insulet by 28.7% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier's stock valued at $55,000 after purchasing an additional 39 shares during the last quarter. PDS Planning Inc raised its holdings in shares of Insulet by 5.1% during the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier's stock valued at $253,000 after buying an additional 40 shares in the last quarter. Finally, Camarda Financial Advisors LLC raised its holdings in shares of Insulet by 0.5% during the 2nd quarter. Camarda Financial Advisors LLC now owns 7,332 shares of the medical instruments supplier's stock valued at $2,304,000 after buying an additional 40 shares in the last quarter.

Wall Street Analyst Weigh In

PODD has been the subject of several research reports. Stifel Nicolaus cut their target price on Insulet from $370.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, February 4th. BTIG Research reissued a "buy" rating and set a $380.00 price target on shares of Insulet in a research note on Wednesday, February 18th. Citigroup lowered their price objective on shares of Insulet from $380.00 to $345.00 and set a "buy" rating for the company in a report on Thursday, February 19th. UBS Group reaffirmed a "buy" rating on shares of Insulet in a research note on Thursday, December 18th. Finally, Truist Financial reduced their target price on shares of Insulet from $390.00 to $360.00 and set a "buy" rating on the stock in a report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Insulet has a consensus rating of "Moderate Buy" and a consensus target price of $354.57.

Insider Activity at Insulet

In other news, Director Michael R. Minogue purchased 2,030 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director directly owned 17,483 shares of the company's stock, valued at $4,304,839.09. This represents a 13.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.

Insulet Price Performance

PODD opened at $238.24 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The stock's 50 day simple moving average is $261.60 and its 200 day simple moving average is $298.92. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 68.07, a PEG ratio of 1.43 and a beta of 1.42. Insulet Corporation has a 1 year low of $233.29 and a 1 year high of $354.88.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business's revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. As a group, analysts predict that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company's core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet's products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company's product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.

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