Insulet Corporation $PODD Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership decreased its stake in shares of Insulet Corporation (NASDAQ:PODD) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 668,846 shares of the medical instruments supplier’s stock after selling 2,626 shares during the period. Artisan Partners Limited Partnership owned approximately 0.95% of Insulet worth $206,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PODD. Vanguard Group Inc. boosted its holdings in shares of Insulet by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after acquiring an additional 87,845 shares in the last quarter. Geode Capital Management LLC raised its holdings in Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock worth $603,211,000 after purchasing an additional 58,309 shares in the last quarter. Norges Bank acquired a new stake in Insulet in the second quarter worth approximately $324,689,000. Federated Hermes Inc. lifted its position in Insulet by 14.3% in the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after purchasing an additional 90,494 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Insulet by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock valued at $213,997,000 after purchasing an additional 6,763 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus dropped their price objective on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. The Goldman Sachs Group dropped their price target on shares of Insulet from $363.00 to $326.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Canaccord Genuity Group reduced their price objective on shares of Insulet from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Evercore set a $340.00 price objective on shares of Insulet in a research note on Thursday, February 19th. Finally, Citigroup dropped their target price on shares of Insulet from $380.00 to $345.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Insulet has an average rating of “Moderate Buy” and a consensus price target of $354.57.

Insider Buying and Selling

In other news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

Insulet Stock Performance

Shares of PODD opened at $251.50 on Friday. Insulet Corporation has a 52 week low of $230.05 and a 52 week high of $354.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The company has a market capitalization of $17.71 billion, a PE ratio of 71.86, a PEG ratio of 1.48 and a beta of 1.41. The company’s 50 day moving average price is $269.07 and its 200 day moving average price is $303.58.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The business had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. During the same period in the previous year, the company posted $1.15 EPS. Insulet’s revenue was up 31.2% on a year-over-year basis. Research analysts expect that Insulet Corporation will post 3.92 EPS for the current fiscal 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.