Norges Bank Buys New Stake in Insulet Co. (NASDAQ:PODD)

Norges Bank purchased a new stake in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 953,024 shares of the medical instruments supplier’s stock, valued at approximately $248,806,000. Norges Bank owned about 1.36% of Insulet at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Insulet in the 4th quarter valued at about $36,000. SRS Capital Advisors Inc. lifted its stake in Insulet by 43.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier’s stock valued at $49,000 after buying an additional 56 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Insulet in the fourth quarter valued at approximately $57,000. TD Private Client Wealth LLC grew its position in shares of Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock worth $53,000 after acquiring an additional 56 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier’s stock valued at $69,000 after acquiring an additional 246 shares during the period.

Insiders Place Their Bets

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 sale, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Insulet Stock Down 0.6 %

Shares of NASDAQ PODD opened at $258.75 on Friday. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The firm has a 50-day moving average price of $271.69 and a 200 day moving average price of $258.75. 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 results 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 during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Equities research analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James restated an “outperform” rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. TD Cowen increased their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Citigroup boosted their target price on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

About Insulet

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.