Insulet Corporation (NASDAQ:PODD) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA reduced its stake in Insulet Corporation (NASDAQ:PODD) by 13.8%, selling 68,200 shares during the first quarter, resulting in ownership of 425,018 shares valued at approximately $111.6 million.
• Insulet Corporation recently reported a quarterly earnings per share of $1.02, surpassing analyst expectations of $0.81, and experienced a revenue increase of 28.8% compared to the previous year.
• Multiple research analysts have provided conflicting ratings for Insulet, with some upgrading their price targets while others downgraded from "buy" to "hold," indicating mixed sentiment surrounding the stock's future performance.

Primecap Management Co. CA trimmed its position in shares of Insulet Corporation (NASDAQ:PODD - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,018 shares of the medical instruments supplier's stock after selling 68,200 shares during the period. Primecap Management Co. CA owned approximately 0.60% of Insulet worth $111,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PODD. Vanguard Group Inc. grew its position in Insulet by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier's stock worth $2,276,553,000 after acquiring an additional 178,976 shares in the last quarter. Ithaka Group LLC raised its position in Insulet by 4.8% during the first quarter. Ithaka Group LLC now owns 30,424 shares of the medical instruments supplier's stock valued at $7,990,000 after purchasing an additional 1,389 shares during the period. Advyzon Investment Management LLC bought a new stake in shares of Insulet in the 1st quarter valued at approximately $253,000. ING Groep NV boosted its holdings in shares of Insulet by 1,563.3% in the 1st quarter. ING Groep NV now owns 35,428 shares of the medical instruments supplier's stock worth $9,304,000 after purchasing an additional 33,298 shares during the period. Finally, Cumberland Partners Ltd bought a new position in shares of Insulet during the 1st quarter valued at approximately $1,707,000.

Insider Transactions at Insulet

In other news, SVP John W. Kapples sold 5,278 shares of the firm'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 completion of the transaction, the senior vice president directly owned 23,180 shares in the company, valued at $7,382,134.60. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wolfe Research upgraded Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price target for the company in a research report on Tuesday, May 13th. Morgan Stanley reissued an "overweight" rating on shares of Insulet in a research note on Thursday. Wall Street Zen cut shares of Insulet from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $360.00 target price (up previously from $328.00) on shares of Insulet in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Insulet in a research report on Friday, May 30th. They issued a "buy" rating and a $380.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Insulet currently has an average rating of "Moderate Buy" and an average price target of $324.72.

Insulet Trading Up 1.2%

NASDAQ PODD traded up $3.55 during trading hours on Friday, reaching $307.10. The company had a trading volume of 1,099,682 shares, compared to its average volume of 619,315. The company has a current ratio of 2.26, a quick ratio of 3.63 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $21.61 billion, a P/E ratio of 93.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.35. The stock has a 50-day moving average of $299.12 and a 200 day moving average of $283.00. Insulet Corporation has a 1-year low of $173.00 and a 1-year high of $329.33.

Insulet (NASDAQ:PODD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.25. The business had revenue of $649.10 million for the quarter, compared to the consensus estimate of $612.31 million. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The business's revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. As a group, research analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

About Insulet

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.