Insulet Co. (NASDAQ:PODD) Shares Sold by NEOS Investment Management LLC

NEOS Investment Management LLC reduced its position in shares of Insulet Co. (NASDAQ:PODD) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,350 shares of the medical instruments supplier’s stock after selling 5,047 shares during the period. NEOS Investment Management LLC’s holdings in Insulet were worth $1,658,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Insulet in the third quarter worth about $224,000. Cerity Partners LLC boosted its position in Insulet by 78.5% during the 3rd quarter. Cerity Partners LLC now owns 10,193 shares of the medical instruments supplier’s stock valued at $2,372,000 after purchasing an additional 4,484 shares during the period. Bank of Montreal Can grew its stake in Insulet by 9.0% during the 3rd quarter. Bank of Montreal Can now owns 120,701 shares of the medical instruments supplier’s stock worth $28,006,000 after buying an additional 9,991 shares during the last quarter. Glenmede Trust Co. NA increased its position in Insulet by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after buying an additional 47 shares during the period. Finally, CreativeOne Wealth LLC bought a new stake in Insulet in the third quarter valued at $206,000.

Insider Activity at Insulet

In other news, 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 value of $3,470,320.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction on 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 in the company, valued at $888,525. This represents a 36.10 % 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 Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Piper Sandler increased their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada started coverage on Insulet in a research report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 target price on the stock. Finally, TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.06.

Insulet Stock Down 0.6 %

NASDAQ PODD opened at $258.75 on Friday. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a market capitalization of $18.17 billion, a P/E ratio of 44.69, a PEG ratio of 3.62 and a beta of 1.29. The company’s 50 day simple moving average is $271.69 and its 200 day simple moving average is $258.75. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

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

Insulet 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.