Sterling Capital Management LLC Sells 4,465 Shares of Insulet Co. (NASDAQ:PODD)

Sterling Capital Management LLC lessened its holdings in Insulet Co. (NASDAQ:PODD) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,971 shares of the medical instruments supplier’s stock after selling 4,465 shares during the period. Sterling Capital Management LLC’s holdings in Insulet were worth $5,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PODD. Horizon Investments LLC boosted its stake in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock valued at $362,000 after purchasing an additional 42 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after buying an additional 43 shares in the last quarter. Graypoint LLC increased its holdings in shares of Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 47 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 47 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Insulet by 2.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier’s stock valued at $552,000 after acquiring an additional 48 shares during the last quarter.

Insulet Stock Up 1.0 %

Shares of NASDAQ PODD opened at $253.99 on Friday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market cap of $17.84 billion, a PE ratio of 43.87, a P/E/G ratio of 3.62 and a beta of 1.30. The company’s fifty day simple moving average is $266.67 and its 200 day simple moving average is $260.38.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. As a group, sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PODD has been the subject of a number of recent research reports. StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company lifted their target price on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Piper Sandler upped their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus raised their price target on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Insulet has an average rating of “Moderate Buy” and an average price target of $292.06.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the transaction, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at $3,187,240. This represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% 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.