Victory Capital Management Inc. Has $9.19 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

Victory Capital Management Inc. trimmed its holdings in shares of Insulet Co. (NASDAQ:PODD) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,217 shares of the medical instruments supplier’s stock after selling 489 shares during the period. Victory Capital Management Inc.’s holdings in Insulet were worth $9,194,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Janney Montgomery Scott LLC raised its holdings in shares of Insulet by 7.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock valued at $1,318,000 after purchasing an additional 394 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Insulet by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,210 shares of the medical instruments supplier’s stock valued at $20,065,000 after purchasing an additional 3,355 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Insulet by 633.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 133 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Insulet in the 3rd quarter valued at about $1,017,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Insulet by 4.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,076 shares of the medical instruments supplier’s stock valued at $250,000 after purchasing an additional 48 shares during the period.

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares of the company’s stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup increased their price target on shares of Insulet from $310.00 to $355.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Royal Bank of Canada assumed coverage on shares of Insulet in a report on Thursday, March 6th. They issued an “outperform” rating and a $340.00 price target on the stock. Finally, StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Stock Performance

Shares of Insulet stock opened at $244.67 on Friday. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The firm has a market capitalization of $17.18 billion, a P/E ratio of 42.26, a P/E/G ratio of 3.62 and a beta of 1.29. The company’s 50 day moving average price is $273.00 and its two-hundred day moving average price is $254.08.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. The firm 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%. On average, equities analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insulet Company 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.