Los Angeles Capital Management LLC Sells 8,376 Shares of Insulet Co. (NASDAQ:PODD)

Los Angeles Capital Management LLC cut its stake in Insulet Co. (NASDAQ:PODD) by 60.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,561 shares of the medical instruments supplier’s stock after selling 8,376 shares during the period. Los Angeles Capital Management LLC’s holdings in Insulet were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PODD. Allianz Asset Management GmbH raised its stake in shares of Insulet by 27.7% during the fourth quarter. Allianz Asset Management GmbH now owns 113,921 shares of the medical instruments supplier’s stock worth $29,741,000 after buying an additional 24,734 shares during the last quarter. ING Groep NV bought a new stake in shares of Insulet during the fourth quarter worth approximately $556,000. Handelsbanken Fonder AB raised its stake in shares of Insulet by 9.9% during the fourth quarter. Handelsbanken Fonder AB now owns 18,916 shares of the medical instruments supplier’s stock worth $4,938,000 after buying an additional 1,700 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Insulet by 30.5% during the fourth quarter. Private Advisor Group LLC now owns 9,642 shares of the medical instruments supplier’s stock worth $2,517,000 after buying an additional 2,255 shares during the last quarter. Finally, Alberta Investment Management Corp raised its stake in shares of Insulet by 57.6% during the fourth quarter. Alberta Investment Management Corp now owns 3,400 shares of the medical instruments supplier’s stock worth $888,000 after buying an additional 1,242 shares during the last quarter.

Insider Buying and Selling

In related news, CAO Lauren Budden sold 915 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James reissued an “outperform” rating and set a $328.00 price target (up from $294.00) on shares of Insulet in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company boosted their price target on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. TD Cowen boosted their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Piper Sandler boosted their price objective on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $289.06.

Insulet Stock Up 1.9 %

Insulet stock opened at $272.27 on Friday. The stock has a market capitalization of $19.10 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. Insulet Co. has a twelve month low of $160.19 and a twelve 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 company has a 50 day moving average of $274.01 and a 200-day moving average of $249.91.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, equities research analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal 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.