LGT Fund Management Co Ltd. Sells 296 Shares of Insulet Co. (NASDAQ:PODD)

LGT Fund Management Co Ltd. cut its position in shares of Insulet Co. (NASDAQ:PODD) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,020 shares of the medical instruments supplier’s stock after selling 296 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Insulet were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. grew its stake in Insulet by 3.5% during the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock worth $614,998,000 after purchasing an additional 79,982 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 valued at $403,339,000 after buying an additional 22,850 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after purchasing an additional 163,388 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Insulet by 43.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after buying an additional 193,839 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Insulet by 7.6% during the fourth quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier’s stock worth $98,605,000 after purchasing an additional 26,594 shares during the last quarter.

Insulet Stock Up 0.1 %

PODD opened at $272.64 on Tuesday. 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 firm has a 50 day moving average price of $274.20 and a 200-day moving average price of $251.26. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 3.62 and a beta of 1.23.

Insulet (NASDAQ:PODD) last released its quarterly earnings data 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million during the quarter, compared to analysts’ expectations of $582.02 million. Equities research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PODD. Barclays upped their price objective on Insulet from $220.00 to $234.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. 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. StockNews.com downgraded Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. Finally, BTIG Research boosted their target price on Insulet from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insider Buying and Selling at Insulet

In other 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 value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $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 is available at 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 completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $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. 0.47% of the stock is owned by corporate insiders.

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.