Russell Investments Group Ltd. Sells 7,088 Shares of Insulet Co. (NASDAQ:PODD)

Russell Investments Group Ltd. cut its stake in shares of Insulet Co. (NASDAQ:PODD) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,168 shares of the medical instruments supplier’s stock after selling 7,088 shares during the quarter. Russell Investments Group Ltd.’s holdings in Insulet were worth $7,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. bought a new stake in Insulet during the 4th quarter valued at approximately $263,144,000. William Blair Investment Management LLC raised its position in shares of Insulet by 145.1% during the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after buying an additional 433,884 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Insulet by 7.6% in the third quarter. Northern Trust Corp now owns 681,731 shares of the medical instruments supplier’s stock worth $108,729,000 after buying an additional 47,938 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Insulet by 62.4% during the third quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after acquiring an additional 244,922 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Insulet by 227.3% during the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after acquiring an additional 268,553 shares in the last quarter.

Insider Transactions at Insulet

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction dated 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 directly owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PODD. Barclays cut their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. lifted their price objective on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus increased their target price on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research report on Monday, February 5th. Piper Sandler reduced 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, Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.33.

Insulet Stock Performance

Insulet stock opened at $184.28 on Wednesday. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $331.65. The company’s 50-day moving average is $170.08 and its 200 day moving average is $181.70. The firm has a market capitalization of $12.90 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62.

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

Insulet Company Profile

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.