Oak Thistle LLC Decreases Stake in Insulet Co. (NASDAQ:PODD)

Oak Thistle LLC trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the medical instruments supplier’s stock after selling 1,427 shares during the period. Oak Thistle LLC’s holdings in Insulet were worth $570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PODD. Capital Research Global Investors grew its position in Insulet by 19.7% during the fourth quarter. Capital Research Global Investors now owns 9,476,623 shares of the medical instruments supplier’s stock valued at $2,056,255,000 after buying an additional 1,556,455 shares during the period. Vanguard Group Inc. increased its stake in shares of Insulet by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,029,608 shares of the medical instruments supplier’s stock valued at $1,742,264,000 after purchasing an additional 29,387 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Insulet in the 4th quarter worth about $263,144,000. Norges Bank purchased a new position in Insulet during the fourth quarter worth approximately $227,655,000. Finally, Goldman Sachs Group Inc. grew its holdings in Insulet by 56.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 878,529 shares of the medical instruments supplier’s stock valued at $190,623,000 after purchasing an additional 316,649 shares during the period.

Wall Street Analyst Weigh In

PODD has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on Insulet from $255.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Raymond James reduced their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Wolfe Research raised shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Tuesday, May 7th. Canaccord Genuity Group increased their target price on shares of Insulet from $226.00 to $234.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, OTR Global restated a “mixed” rating on shares of Insulet in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Insulet has a consensus rating of “Moderate Buy” and an average target price of $239.18.

Insulet Stock Down 2.8 %

Shares of PODD traded down $5.64 during midday trading on Monday, reaching $196.16. The stock had a trading volume of 696,571 shares, compared to its average volume of 877,681. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.74 and a quick ratio of 2.75. The company’s fifty day simple moving average is $184.23 and its two-hundred day simple moving average is $186.27. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 3.63 and a beta of 1.16. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $293.64.

Insulet (NASDAQ:PODD) last announced its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.34. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The company had revenue of $441.70 million during the quarter, compared to the consensus estimate of $424.05 million. During the same period in the previous year, the business earned $0.23 EPS. Insulet’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities research analysts expect that Insulet Co. will post 3.11 earnings per share for the current year.

Insider Activity at Insulet

In related news, Director Timothy J. Scannell sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $180.90, for a total value of $596,970.00. Following the transaction, the director now directly owns 42,586 shares of the company’s stock, valued at approximately $7,703,807.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy J. Scannell sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $180.90, for a total value of $596,970.00. Following the completion of the sale, the director now directly owns 42,586 shares of the company’s stock, valued at approximately $7,703,807.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark N. Field sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the transaction, the senior vice president now owns 12,875 shares in the company, valued at approximately $2,574,485. The disclosure for this sale can be found here. Insiders sold 13,931 shares of company stock valued at $2,636,286 over the last three months. 0.47% of the stock is owned by corporate insiders.

Insulet 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.