Shacey Petrovic Sells 11,609 Shares of Insulet Co. (NASDAQ:PODD) Stock

Insulet Co. (NASDAQ:PODDGet Free Report) Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Insulet Stock Performance

PODD opened at $169.25 on Friday. Insulet Co. has a 52-week low of $125.82 and a 52-week high of $335.91. The firm has a market capitalization of $11.84 billion, a PE ratio of 58.16, a PEG ratio of 2.99 and a beta of 1.05. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. The business’s 50-day simple moving average is $196.86 and its 200 day simple moving average is $181.41.

Insulet (NASDAQ:PODDGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.73. The firm had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts expect that Insulet Co. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Insulet from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $185.00 to $234.00 in a research report on Monday, December 4th. Piper Sandler dropped their price objective on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Barclays dropped their price objective on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Robert W. Baird upgraded Insulet from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $180.00 to $238.00 in a report on Thursday, December 21st. Finally, JPMorgan Chase & Co. upped their price objective on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.33.

Read Our Latest Report on Insulet

Hedge Funds Weigh In On Insulet

A number of large investors have recently made changes to their positions in PODD. Capital Research Global Investors increased its stake in shares of 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 worth $2,056,255,000 after purchasing an additional 1,556,455 shares during the period. Moneta Group Investment Advisors LLC grew its position in Insulet by 101,333.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,300,377 shares of the medical instruments supplier’s stock worth $382,818,000 after buying an additional 1,299,095 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Insulet during the fourth quarter worth approximately $263,144,000. Norges Bank acquired a new stake in Insulet during the fourth quarter worth approximately $227,655,000. Finally, Geode Capital Management LLC grew its position in Insulet by 55.4% during the first quarter. Geode Capital Management LLC now owns 1,486,725 shares of the medical instruments supplier’s stock worth $473,166,000 after buying an additional 529,926 shares in the last quarter.

About Insulet

(Get Free Report)

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.

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