Gulf International Bank UK Ltd Decreases Stock Holdings in Insulet Co. (NASDAQ:PODD)

Gulf International Bank UK Ltd trimmed its position in shares of Insulet Co. (NASDAQ:PODD) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 5,452 shares of the medical instruments supplier’s stock after selling 133 shares during the period. Gulf International Bank UK Ltd’s holdings in Insulet were worth $1,423,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PODD. Baillie Gifford & Co. raised its holdings in shares of Insulet by 20.7% during the 3rd quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock worth $529,669,000 after acquiring an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Insulet by 5,928.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock worth $75,835,000 after acquiring an additional 320,416 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Insulet by 43.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock valued at $148,091,000 after buying an additional 193,839 shares during the period. Westfield Capital Management Co. LP raised its holdings in Insulet by 27.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock valued at $175,697,000 after buying an additional 163,388 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Insulet during the 3rd quarter valued at $16,342,000.

Insider Transactions at Insulet

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

Wall Street Analyst Weigh In

PODD has been the topic of several recent research reports. Morgan Stanley increased their price target on Insulet from $234.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Citigroup increased their price target on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. BTIG Research increased their price target on Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Raymond James restated an “outperform” rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Insulet Price Performance

PODD opened at $272.27 on Friday. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. 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 fifty day simple moving average is $274.01 and its 200-day simple moving average is $250.30. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 47.02, a PEG ratio of 3.62 and a beta of 1.23.

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

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.