Fisher Asset Management LLC Lowers Holdings in Insulet Co. (NASDAQ:PODD)

Fisher Asset Management LLC cut its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,164 shares of the medical instruments supplier's stock after selling 59,698 shares during the quarter. Fisher Asset Management LLC owned approximately 0.49% of Insulet worth $74,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Consolidated Portfolio Review Corp boosted its holdings in Insulet by 1.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 3,713 shares of the medical instruments supplier's stock worth $806,000 after purchasing an additional 57 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Insulet by 1.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 5,817 shares of the medical instruments supplier's stock valued at $1,262,000 after acquiring an additional 73 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier's stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Insulet by 0.8% in the third quarter. New York Life Investment Management LLC now owns 10,035 shares of the medical instruments supplier's stock valued at $1,600,000 after acquiring an additional 82 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Insulet by 3.6% in the fourth quarter. Avior Wealth Management LLC now owns 2,645 shares of the medical instruments supplier's stock valued at $574,000 after acquiring an additional 91 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PODD shares. Stifel Nicolaus boosted their target price on shares of Insulet from $163.00 to $208.00 and gave the company a "hold" rating in a research note on Monday, February 5th. Barclays dropped their target price on shares of Insulet from $214.00 to $213.00 and set an "equal weight" rating on the stock in a research note on Monday, February 26th. Piper Sandler lowered their price target on shares of Insulet from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Insulet from $190.00 to $225.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $243.21.

Insulet Price Performance

Shares of NASDAQ:PODD traded up $1.01 during trading on Friday, reaching $174.43. The company had a trading volume of 614,615 shares, compared to its average volume of 712,105. The company has a fifty day moving average of $169.57 and a two-hundred day moving average of $180.68. The stock has a market capitalization of $12.21 billion, a P/E ratio of 59.94, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $335.91. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.73. The firm had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business's revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts forecast that Insulet Co. will post 3.08 earnings per share for the current year.

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the sale, the director now owns 2,567 shares of the company's stock, valued at approximately $418,215.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

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.