Capital World Investors Sells 2,043,769 Shares of Insulet Co. (NASDAQ:PODD)

Capital World Investors lessened its stake in Insulet Co. (NASDAQ:PODD) by 92.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,009 shares of the medical instruments supplier’s stock after selling 2,043,769 shares during the quarter. Capital World Investors owned approximately 0.24% of Insulet worth $28,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its position in shares of Insulet by 19.7% in the 4th quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after acquiring an additional 1,556,455 shares during the period. Vanguard Group Inc. increased its position in Insulet by 2.1% during the first quarter. Vanguard Group Inc. now owns 8,199,114 shares of the medical instruments supplier’s stock worth $1,405,328,000 after buying an additional 169,506 shares during the last quarter. Baillie Gifford & Co. raised its stake in Insulet by 18.9% in the first quarter. Baillie Gifford & Co. now owns 1,442,279 shares of the medical instruments supplier’s stock valued at $247,207,000 after buying an additional 229,520 shares during the period. Norges Bank acquired a new stake in shares of Insulet in the fourth quarter valued at approximately $227,655,000. Finally, William Blair Investment Management LLC boosted its stake in shares of Insulet by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 952,268 shares of the medical instruments supplier’s stock worth $163,219,000 after acquiring an additional 33,579 shares during the period.

Insider Activity at Insulet

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares in the company, valued at approximately $6,779,488.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Mark N. Field sold 1,500 shares of Insulet stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at $2,574,485. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $190.51, for a total transaction of $1,333,570.00. Following the sale, the director now directly owns 35,586 shares of the company’s stock, valued at approximately $6,779,488.86. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock worth $2,636,286 in the last quarter. 0.47% of the stock is owned by insiders.

Insulet Stock Performance

NASDAQ PODD opened at $193.30 on Friday. The firm’s fifty day moving average price is $193.24 and its two-hundred day moving average price is $184.60. The stock has a market cap of $13.54 billion, a PE ratio of 58.58, a PEG ratio of 3.48 and a beta of 1.16. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $283.00.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The business had revenue of $441.70 million during the quarter, compared to analysts’ expectations of $424.05 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts expect that Insulet Co. will post 3.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. OTR Global restated a “mixed” rating on shares of Insulet in a research note on Monday, June 10th. Barclays dropped their price objective on shares of Insulet from $213.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $234.00 target price on shares of Insulet in a report on Tuesday, July 23rd. Raymond James lowered their price target on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Finally, Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.18.

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.