Price T Rowe Associates Inc. MD Reduces Position in Insulet Co. (NASDAQ:PODD)

Price T Rowe Associates Inc. MD lowered its position in Insulet Co. (NASDAQ:PODD) by 21.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 435,924 shares of the medical instruments supplier’s stock after selling 119,193 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Insulet were worth $74,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Insulet in the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. purchased a new position in Insulet during the 4th quarter worth $34,000. Jones Financial Companies Lllp purchased a new position in Insulet during the 4th quarter worth $40,000. Lindbrook Capital LLC increased its stake in Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Insulet in the fourth quarter valued at about $43,000.

Insulet Stock Down 0.8 %

PODD stock opened at $191.83 on Tuesday. The company has a current ratio of 3.74, a quick ratio of 2.75 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $193.40 and its 200 day moving average price is $184.34. Insulet Co. has a 52 week low of $125.82 and a 52 week high of $281.83. The company has a market cap of $13.44 billion, a P/E ratio of 58.13, a P/E/G ratio of 3.47 and a beta of 1.16.

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

Insider Buying and Selling

In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the sale, the director now owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy J. Scannell sold 7,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 35,586 shares in the company, valued at approximately $6,779,488.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy J. Scannell sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total transaction of $596,970.00. Following the completion of the sale, the director now directly owns 42,586 shares in the company, valued at $7,703,807.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,931 shares of company stock valued at $2,636,286. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday, May 7th. Raymond James lowered their target price on Insulet from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Canaccord Genuity Group restated a “buy” rating and set a $234.00 price target on shares of Insulet in a research note on Tuesday, July 23rd. Barclays lowered 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. Finally, Jefferies Financial Group upped their price objective on shares of Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.

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.