Primecap Management Co. CA Trims Stock Position in Insulet Corporation $PODD

Primecap Management Co. CA cut its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 55.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,721 shares of the medical instruments supplier’s stock after selling 236,297 shares during the period. Primecap Management Co. CA owned about 0.27% of Insulet worth $59,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PODD. Zions Bancorporation National Association UT purchased a new position in shares of Insulet during the 1st quarter valued at about $26,000. Larson Financial Group LLC grew its holdings in Insulet by 426.3% during the first quarter. Larson Financial Group LLC now owns 100 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 81 shares during the period. Golden State Wealth Management LLC raised its position in Insulet by 202.9% during the second quarter. Golden State Wealth Management LLC now owns 103 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 69 shares in the last quarter. SouthState Corp raised its position in Insulet by 253.3% during the first quarter. SouthState Corp now owns 106 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. Finally, Kozak & Associates Inc. acquired a new position in Insulet in the second quarter valued at approximately $32,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Insulet from $399.00 to $428.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Stifel Nicolaus started coverage on shares of Insulet in a report on Tuesday, October 21st. They set a “buy” rating and a $370.00 price target on the stock. Truist Financial lifted their price objective on shares of Insulet from $365.00 to $390.00 and gave the company a “buy” rating in a report on Friday, November 7th. BTIG Research reiterated a “buy” rating and issued a $370.00 price objective on shares of Insulet in a research report on Thursday, November 13th. Finally, Leerink Partners raised their target price on Insulet from $355.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.35.

Insulet Stock Performance

NASDAQ:PODD opened at $346.36 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.26. The stock has a market capitalization of $24.37 billion, a PE ratio of 105.28, a P/E/G ratio of 2.64 and a beta of 1.39. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $353.50. The company has a fifty day moving average of $322.93 and a two-hundred day moving average of $314.19.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.11. Insulet had a net margin of 10.01% and a return on equity of 23.78%. The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $678.70 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. Insulet has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Prem Singh sold 687 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $347.49, for a total value of $238,725.63. Following the completion of the transaction, the senior vice president directly owned 3,456 shares of the company’s stock, valued at approximately $1,200,925.44. This represents a 16.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Laetitia Cousin sold 797 shares of Insulet stock in a transaction on Monday, September 8th. The stock was sold at an average price of $348.81, for a total transaction of $278,001.57. Following the sale, the senior vice president directly owned 3,890 shares in the company, valued at approximately $1,356,870.90. This trade represents a 17.00% decrease in their position. The SEC filing for this sale provides additional information. 0.39% of the stock is owned by corporate insiders.

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.