Insider Selling: Insulet Co. (NASDAQ:PODD) Director Sells 7,000 Shares of Stock

Insulet Co. (NASDAQ:PODDGet Free Report) 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 sale, the director now owns 35,586 shares in the company, valued at $6,779,488.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Insulet Price Performance

Shares of NASDAQ:PODD traded up $0.02 during midday trading on Tuesday, hitting $192.06. The company’s stock had a trading volume of 473,795 shares, compared to its average volume of 884,675. The business’s 50 day simple moving average is $174.92 and its 200 day simple moving average is $185.48. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The company has a market cap of $13.45 billion, a P/E ratio of 58.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.15. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $298.95.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PODD shares. Jefferies Financial Group upped their price objective on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 10th. OTR Global reaffirmed a “mixed” rating on shares of Insulet in a research note on Monday. Piper Sandler cut their target price on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Canaccord Genuity Group upped their target price on Insulet from $226.00 to $234.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday, May 7th. 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 MarketBeat.com, Insulet presently has an average rating of “Moderate Buy” and an average price target of $239.18.

Check Out Our Latest Research Report on PODD

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PODD. Capital Research Global Investors lifted its stake in Insulet by 19.7% in the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock worth $2,056,255,000 after acquiring an additional 1,556,455 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Insulet during the 4th quarter worth approximately $263,144,000. Norges Bank purchased a new stake in shares of Insulet during the 4th quarter worth approximately $227,655,000. William Blair Investment Management LLC increased its holdings in shares of Insulet by 145.1% in the 3rd quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after acquiring an additional 433,884 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Insulet by 56.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after acquiring an additional 316,649 shares during the period.

About Insulet

(Get Free Report)

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.

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