Primecap Management Co. CA Sells 58,880 Shares of Insulet Co. (NASDAQ:PODD)

Primecap Management Co. CA lessened its position in shares of Insulet Co. (NASDAQ:PODD) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 493,218 shares of the medical instruments supplier’s stock after selling 58,880 shares during the period. Primecap Management Co. CA’s holdings in Insulet were worth $128,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Insulet in the fourth quarter worth $69,433,000. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Insulet in the 4th quarter valued at about $53,184,000. Charles Schwab Investment Management Inc. boosted its position in shares of Insulet by 43.8% during 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 acquiring an additional 193,839 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after purchasing an additional 163,388 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Insulet in the fourth quarter worth approximately $28,422,000.

Insider Activity

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Insulet Price Performance

Shares of Insulet stock opened at $260.47 on Wednesday. The firm has a market cap of $18.29 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The company’s fifty day simple moving average is $272.30 and its two-hundred day simple moving average is $256.12. The company has a quick ratio of 2.80, a current ratio of 3.68 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.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PODD. JPMorgan Chase & Co. lifted their target price on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. TD Cowen upped their target price on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler increased their target price on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Canaccord Genuity Group lifted their price target on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Raymond James reiterated an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $292.06.

About Insulet

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.