American Century Companies Inc. Trims Holdings in Insulet Corporation $PODD

American Century Companies Inc. lessened its holdings in Insulet Corporation (NASDAQ:PODD) by 7.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,406,863 shares of the medical instruments supplier’s stock after selling 106,813 shares during the quarter. American Century Companies Inc.’s holdings in Insulet were worth $434,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock valued at $2,715,651,000 after purchasing an additional 87,845 shares during the last quarter. Geode Capital Management LLC increased its position in Insulet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after buying an additional 58,309 shares in the last quarter. Norges Bank purchased a new stake in Insulet in the second quarter valued at about $324,689,000. Federated Hermes Inc. boosted its holdings 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 acquiring an additional 90,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 worth $213,997,000 after purchasing an additional 6,763 shares during the last quarter.

Insulet Price Performance

Insulet stock opened at $246.61 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $268.21 and a 200 day moving average price of $303.18. Insulet Corporation has a 12-month low of $230.05 and a 12-month high of $354.88. The stock has a market cap of $17.36 billion, a P/E ratio of 70.46, a PEG ratio of 1.50 and a beta of 1.41.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on PODD shares. Canaccord Genuity Group cut their price target on shares of Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their target price on Insulet from $415.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. BTIG Research reissued a “buy” rating and issued a $380.00 price target on shares of Insulet in a report on Wednesday, February 18th. Wolfe Research upped their price objective on Insulet from $350.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.57.

Insider Buying and Selling

In related news, Director Michael R. Minogue acquired 2,030 shares of Insulet stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The transaction 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 corporate insiders.

Insulet Profile

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.