Clearbridge Investments LLC Sells 62,732 Shares of Insulet Co. (NASDAQ:PODD)

Clearbridge Investments LLC decreased its stake in shares of Insulet Co. (NASDAQ:PODD) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,406,353 shares of the medical instruments supplier’s stock after selling 62,732 shares during the period. Clearbridge Investments LLC owned 2.00% of Insulet worth $367,157,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC raised its position in Insulet by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier’s stock worth $403,339,000 after purchasing an additional 22,850 shares in the last quarter. Norges Bank acquired a new stake in Insulet during the fourth quarter valued at approximately $248,806,000. Artisan Partners Limited Partnership grew its stake in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after purchasing an additional 149,524 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Insulet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier’s stock valued at $168,902,000 after buying an additional 10,694 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup raised their price objective on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada began coverage on shares of Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. Canaccord Genuity Group lifted their price target on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Stock Down 0.6 %

PODD opened at $258.75 on Friday. The company has a 50 day moving average of $271.69 and a 200 day moving average of $258.75. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a market cap of $18.17 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, sell-side analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Insider Buying and Selling at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the company’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 sale, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of the business’s 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 directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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.