Sterling Capital Management LLC Sells 4,465 Shares of Insulet Co. (NASDAQ:PODD)

Sterling Capital Management LLC trimmed its position in Insulet Co. (NASDAQ:PODD) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,971 shares of the medical instruments supplier’s stock after selling 4,465 shares during the period. Sterling Capital Management LLC’s holdings in Insulet were worth $5,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PODD. Norges Bank bought a new position in shares of Insulet during the fourth quarter worth $248,806,000. Raymond James Financial Inc. acquired a new position in Insulet in the fourth quarter valued at about $69,433,000. Alecta Tjanstepension Omsesidigt acquired a new position in Insulet in the fourth quarter valued at about $53,184,000. Artisan Partners Limited Partnership grew its stake in Insulet by 24.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after acquiring an additional 149,524 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Insulet in the fourth quarter worth about $28,422,000.

Insiders Place Their Bets

In related news, EVP Eric Benjamin sold 12,394 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This trade 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 this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the sale, the director now directly owns 3,231 shares of the company’s stock, valued at $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Insulet Price Performance

Insulet stock opened at $253.99 on Friday. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 3.62 and a beta of 1.30. The stock’s 50 day moving average is $266.67 and its 200-day moving average is $260.38. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data 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. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Equities research analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Analyst Ratings Changes

PODD has been the subject of several research analyst reports. Citigroup boosted their price objective on Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective on the stock. Canaccord Genuity Group lifted their price target on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Piper Sandler upped their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Four research 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 company currently 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.