First Republic Investment Management Inc. Sells 631 Shares of Insulet Co. (NASDAQ:PODD)

First Republic Investment Management Inc. lessened its holdings in shares of Insulet Co. (NASDAQ:PODD) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,206 shares of the medical instruments supplier’s stock after selling 631 shares during the quarter. First Republic Investment Management Inc.’s holdings in Insulet were worth $1,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PODD. American National Bank acquired a new stake in shares of Insulet in the first quarter valued at $28,000. First Manhattan Co. purchased a new stake in Insulet in the fourth quarter valued at approximately $35,000. Lindbrook Capital LLC lifted its stake in Insulet by 78.1% in the first quarter. Lindbrook Capital LLC now owns 114 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 50 shares during the last quarter. Heritage Wealth Management LLC lifted its stake in Insulet by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 140 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 70 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Insulet by 51.1% in the first quarter. Global Retirement Partners LLC now owns 133 shares of the medical instruments supplier’s stock valued at $43,000 after buying an additional 45 shares during the last quarter.

Insulet Trading Down 7.7 %

Shares of PODD stock opened at $178.53 on Friday. The stock has a market capitalization of $12.46 billion, a PE ratio of 200.60, a P/E/G ratio of 3.19 and a beta of 0.81. Insulet Co. has a 1-year low of $170.87 and a 1-year high of $335.91. The business has a 50-day moving average of $244.18 and a 200 day moving average of $282.18. The company has a debt-to-equity ratio of 2.47, a current ratio of 3.34 and a quick ratio of 2.38.

Insulet (NASDAQ:PODD) last issued its earnings results on Tuesday, August 8th. The medical instruments supplier reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The business had revenue of $396.50 million during the quarter, compared to analyst estimates of $383.97 million. Insulet had a return on equity of 22.42% and a net margin of 4.29%. As a group, sell-side analysts anticipate that Insulet Co. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PODD shares. JPMorgan Chase & Co. cut their price target on Insulet from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. Piper Sandler cut their price target on shares of Insulet from $360.00 to $325.00 in a report on Wednesday, August 9th. Bank of America cut their price target on shares of Insulet from $365.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, August 24th. UBS Group cut their price objective on Insulet from $270.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, StockNews.com assumed coverage on Insulet in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.67.

Insider Activity

In other Insulet news, CEO James Hollingshead bought 5,550 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the completion of the acquisition, the chief executive officer now owns 34,177 shares in the company, valued at approximately $6,200,049.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Insulet news, CFO Wayde D. Mcmillan sold 1,388 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $282.94, for a total value of $392,720.72. Following the completion of the sale, the chief financial officer now directly owns 21,477 shares in the company, valued at $6,076,702.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Hollingshead bought 5,550 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were purchased at an average cost of $181.41 per share, with a total value of $1,006,825.50. Following the acquisition, the chief executive officer now directly owns 34,177 shares of the company’s stock, valued at $6,200,049.57. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

Insulet Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.