First Light Asset Management LLC Has $8.83 Million Stock Position in Insulet Co. (NASDAQ:PODD)

First Light Asset Management LLC reduced its stake in Insulet Co. (NASDAQ:PODD) by 78.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,821 shares of the medical instruments supplier’s stock after selling 125,261 shares during the period. First Light Asset Management LLC’s holdings in Insulet were worth $8,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PODD. Baillie Gifford & Co. boosted its stake in shares of Insulet by 3.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier’s stock valued at $614,998,000 after purchasing an additional 79,982 shares in the last quarter. Geode Capital Management LLC grew its holdings in Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier’s stock worth $463,347,000 after acquiring an additional 40,566 shares during the last quarter. Norges Bank bought a new position in shares of Insulet in the fourth quarter worth about $248,806,000. Artisan Partners Limited Partnership grew its stake in shares of Insulet by 24.1% during 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 purchasing an additional 149,524 shares during the last quarter. Finally, Northern Trust Corp raised its position in Insulet by 20.5% in the 4th quarter. Northern Trust Corp now owns 738,811 shares of the medical instruments supplier’s stock worth $192,881,000 after purchasing an additional 125,710 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PODD shares. Piper Sandler raised their target price on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. TD Cowen lifted their price target on shares of Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group raised their price objective on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Four equities 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 has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insider Buying and Selling

In other Insulet news, 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 transaction, the director now owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

Insulet Stock Performance

Shares of NASDAQ PODD opened at $260.71 on Monday. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. The stock has a market capitalization of $18.31 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The stock has a 50 day moving average price of $260.21 and a 200 day moving average price of $261.91.

Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million for 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%. Analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.