Sterling Capital Management LLC Reduces Position in Insulet Corporation $PODD

Key Points

• Sterling Capital Management cut its Insulet stake by 93.8% in the first quarter, selling 8,452 shares and ending with just 562 shares worth about $118,000.
• Insulet is drawing mixed sentiment: several analysts remain bullish and Deutsche Bank started coverage with a Buy rating and a $190 target, but other firms have trimmed price targets recently.
• The company faces fresh headwinds from a Class I FDA recall of its Omnipod product and securities-fraud class action filings, even as it expands Omnipod 5 into Spain and reported strong recent earnings growth.

Sterling Capital Management LLC decreased its holdings in Insulet Corporation (NASDAQ:PODD - Free Report) by 93.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 562 shares of the medical instruments supplier's stock after selling 8,452 shares during the quarter. Sterling Capital Management LLC's holdings in Insulet were worth $118,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Insulet by 2.1% during the fourth quarter. State Street Corp now owns 3,155,489 shares of the medical instruments supplier's stock worth $896,916,000 after purchasing an additional 65,317 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Insulet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,006,413 shares of the medical instruments supplier's stock valued at $568,274,000 after acquiring an additional 41,019 shares during the last quarter. Invesco Ltd. raised its position in shares of Insulet by 10.5% during the 4th quarter. Invesco Ltd. now owns 1,480,562 shares of the medical instruments supplier's stock valued at $420,835,000 after acquiring an additional 141,167 shares in the last quarter. Norges Bank bought a new position in Insulet during the fourth quarter worth $300,794,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Insulet by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 806,119 shares of the medical instruments supplier's stock worth $229,131,000 after purchasing an additional 29,690 shares during the last quarter.

Key Stories Impacting Insulet

Here are the key news stories impacting Insulet this week:

• Positive Sentiment: Insulet launched Omnipod 5 and Omnipod Discover in Spain, expanding access to its tubeless diabetes technology and supporting international growth. Insulet launches Omnipod 5, Omnipod Discover in Spain
• Positive Sentiment: Zacks said Insulet could beat earnings estimates again, citing strong earnings-surprise history and ongoing Omnipod 5 momentum. Why Insulet (PODD) Could Beat Earnings Estimates Again
• Neutral Sentiment: Deutsche Bank initiated coverage on Insulet with a Buy rating and a $190 target, reinforcing a constructive long-term view. Insulet (PODD): Deutsche Bank Initiates Coverage With a Buy and a $190 Target
• Negative Sentiment: Multiple law firms filed or promoted a securities-fraud class action against Insulet, alleging investors were harmed by false or misleading statements during the class period. Pomerantz Law Firm Announces the Filing of a Class Action Against Insulet Corporation and Certain Officers – PODD
• Negative Sentiment: The FDA classified an Omnipod recall as a Class I recall, the most serious level, after injury reports, raising concerns about product safety and potential liability. FDA Classifies Insulet Omnipod Recall as Serious After Injury Reports

Analysts Set New Price Targets

PODD has been the topic of several research reports. BTIG Research dropped their price objective on shares of Insulet from $260.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut their price target on Insulet from $340.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded Insulet from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 27th. Robert W. Baird cut their target price on Insulet from $360.00 to $248.00 in a research note on Thursday, May 7th. Finally, Evercore set a $180.00 price target on shares of Insulet in a report on Monday. Twenty-two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $237.83.

Insider Activity at Insulet

In other news, Director Timothy C. Stonesifer bought 2,790 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $143.51 per share, with a total value of $400,392.90. Following the completion of the acquisition, the director directly owned 9,041 shares in the company, valued at approximately $1,297,473.91. This trade represents a 44.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by corporate insiders.

Insulet Price Performance

Shares of PODD opened at $161.55 on Wednesday. Insulet Corporation has a one year low of $138.79 and a one year high of $354.88. The stock's fifty day moving average is $154.02 and its 200-day moving average is $213.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.81 and a current ratio of 2.49. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11.

Insulet (NASDAQ:PODD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The medical instruments supplier reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.23. Insulet had a net margin of 10.44% and a return on equity of 26.87%. The firm had revenue of $761.70 million during the quarter, compared to analyst estimates of $729.89 million. During the same quarter in the prior year, the firm posted $1.02 EPS. Insulet's revenue was up 33.9% compared to the same quarter last year. Insulet has set its FY 2026 guidance at 6.210- EPS. Equities analysts anticipate that Insulet Corporation will post 6.46 EPS for the current year.

About Insulet

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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