KLP Kapitalforvaltning AS Invests $6.55 Million in Insulet Co. (NASDAQ:PODD)

KLP Kapitalforvaltning AS bought a new stake in shares of Insulet Co. (NASDAQ:PODD) during the 4th quarter, Holdings Channel.com reports. The firm bought 25,100 shares of the medical instruments supplier’s stock, valued at approximately $6,553,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the fourth quarter worth about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Insulet by 30.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after purchasing an additional 1,942 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Insulet by 0.9% during the third quarter. Fisher Asset Management LLC now owns 351,100 shares of the medical instruments supplier’s stock worth $81,719,000 after purchasing an additional 3,113 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Insulet by 86.2% in the third quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier’s stock valued at $1,822,000 after purchasing an additional 3,623 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Insulet by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier’s stock valued at $35,708,000 after purchasing an additional 8,301 shares in the last quarter.

Insulet Stock Down 0.5 %

Shares of Insulet stock opened at $272.71 on Wednesday. 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 47.10, a PEG ratio of 3.62 and a beta of 1.29. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The business’s 50 day simple moving average is $272.27 and its 200-day simple moving average is $258.19.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Equities research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

PODD has been the subject of several recent analyst reports. Piper Sandler raised 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. TD Cowen increased their target price on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus upped their target price on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.

Insulet Company 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.