Insulet Co. (NASDAQ:PODD) Stock Position Lowered by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC cut its stake in Insulet Co. (NASDAQ:PODD - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,761 shares of the medical instruments supplier's stock after selling 33,928 shares during the period. Insulet comprises approximately 4.4% of Parkman Healthcare Partners LLC's portfolio, making the stock its 3rd largest position. Parkman Healthcare Partners LLC owned approximately 0.18% of Insulet worth $32,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in shares of Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after buying an additional 79,982 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Insulet by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock valued at $463,347,000 after buying an additional 40,566 shares during the last quarter. Norges Bank purchased a new stake in shares of Insulet in the fourth quarter valued at about $248,806,000. Artisan Partners Limited Partnership raised its holdings in shares of Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after buying an additional 149,524 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Insulet by 20.5% in the fourth quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier's stock valued at $192,881,000 after buying an additional 125,710 shares during the last quarter.

Insulet Price Performance

PODD traded up $2.73 on Friday, hitting $324.75. 836,387 shares of the company were exchanged, compared to its average volume of 706,773. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The business's fifty day moving average is $264.14 and its 200 day moving average is $266.45. Insulet Co. has a fifty-two week low of $170.67 and a fifty-two week high of $325.22. The firm has a market capitalization of $22.85 billion, a P/E ratio of 56.09, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $543.20 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The company's revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Insulet Co. will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PODD. Piper Sandler upped their target price on shares of Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Stifel Nicolaus boosted their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company set a $322.00 price target on shares of Insulet in a research note on Monday, April 28th. Finally, StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $306.53.

Insider Activity at Insulet

In other Insulet news, SVP John W. Kapples sold 5,278 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 23,180 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

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.