Oppenheimer Asset Management Inc. Cuts Stake in Insulet Co. (NASDAQ:PODD)

Oppenheimer Asset Management Inc. reduced its stake in shares of Insulet Co. (NASDAQ:PODD) by 8.6% during the 4th quarter, HoldingsChannel reports. The fund owned 19,402 shares of the medical instruments supplier’s stock after selling 1,824 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Insulet were worth $5,065,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Insulet by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 27,400 shares of the medical instruments supplier’s stock worth $7,153,000 after acquiring an additional 600 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Insulet by 79.6% during the 4th quarter. New York Life Investment Management LLC now owns 16,854 shares of the medical instruments supplier’s stock worth $4,400,000 after acquiring an additional 7,471 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Insulet by 27.7% during the 4th quarter. Allianz Asset Management GmbH now owns 113,921 shares of the medical instruments supplier’s stock worth $29,741,000 after acquiring an additional 24,734 shares during the period. ING Groep NV purchased a new position in shares of Insulet during the 4th quarter worth about $556,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Insulet by 9.9% during the 4th quarter. Handelsbanken Fonder AB now owns 18,916 shares of the medical instruments supplier’s stock worth $4,938,000 after acquiring an additional 1,700 shares during the period.

Insulet Trading Up 1.9 %

PODD opened at $272.27 on Friday. The firm has a market capitalization of $19.10 billion, a P/E ratio of 47.02, a P/E/G ratio of 3.62 and a beta of 1.23. The firm’s 50 day moving average is $274.01 and its 200-day moving average is $249.91. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. 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 (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Analysts expect that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BTIG Research raised their price target on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company raised their price target on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Sanford C. Bernstein began coverage on shares of Insulet in a report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Finally, Piper Sandler raised their price target on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Insulet presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Insider Buying and Selling

In related news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now owns 5,733 shares in the company, valued at approximately $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

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.