Fisher Asset Management LLC Trims Stake in Insulet Corporation $PODD

Fisher Asset Management LLC decreased its stake in shares of Insulet Corporation (NASDAQ:PODD) by 27.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 33,519 shares of the medical instruments supplier’s stock after selling 12,903 shares during the quarter. Fisher Asset Management LLC’s holdings in Insulet were worth $10,531,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in Insulet by 167.0% during the 1st quarter. Cetera Investment Advisers now owns 6,455 shares of the medical instruments supplier’s stock worth $1,695,000 after purchasing an additional 4,037 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Insulet by 2.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,361 shares of the medical instruments supplier’s stock valued at $3,509,000 after purchasing an additional 333 shares in the last quarter. Advyzon Investment Management LLC acquired a new stake in shares of Insulet during the 1st quarter worth about $253,000. Vanguard Group Inc. grew its holdings in shares of Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,668,952 shares of the medical instruments supplier’s stock worth $2,276,553,000 after buying an additional 178,976 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Insulet during the first quarter worth about $860,000.

Insulet Trading Down 0.5%

Shares of PODD opened at $307.56 on Thursday. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The firm has a market capitalization of $21.64 billion, a P/E ratio of 89.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.37. The company has a current ratio of 2.87, a quick ratio of 2.18 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $320.73 and its 200 day simple moving average is $316.08.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.13 by $0.11. The company had revenue of $521.70 million during the quarter, compared to analyst estimates of $678.70 million. Insulet had a return on equity of 24.36% and a net margin of 9.76%.The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other Insulet news, SVP Prem Singh sold 687 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $347.49, for a total transaction of $238,725.63. Following the completion of the sale, the senior vice president directly owned 3,456 shares in the company, valued at $1,200,925.44. The trade was a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Laetitia Cousin sold 797 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $348.81, for a total transaction of $278,001.57. Following the completion of the sale, the senior vice president directly owned 3,890 shares of the company’s stock, valued at $1,356,870.90. The trade was a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PODD has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Insulet from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Barclays raised their price objective on Insulet from $300.00 to $301.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. UBS Group upgraded Insulet from a “neutral” rating to a “buy” rating and upped their target price for the company from $355.00 to $400.00 in a research note on Wednesday, November 19th. Piper Sandler increased their target price on Insulet from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Zacks Research upgraded Insulet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.65.

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.