Insulet Co. (NASDAQ:PODD) Stock Position Trimmed by abrdn plc

abrdn plc cut its position in Insulet Co. (NASDAQ:PODD) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 305,354 shares of the medical instruments supplier’s stock after selling 11,574 shares during the quarter. abrdn plc owned about 0.44% of Insulet worth $66,256,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in shares of Insulet by 101,333.5% during the 4th 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. bought a new stake in shares of Insulet during the 4th quarter worth about $263,144,000. Geode Capital Management LLC raised its position in shares of Insulet by 55.4% during the 1st 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. Clearbridge Investments LLC raised its position in shares of Insulet by 38.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock worth $452,016,000 after buying an additional 474,545 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Insulet by 145.1% during the 3rd quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock worth $116,894,000 after buying an additional 433,884 shares in the last quarter.

Insider Activity at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PODD has been the topic of several recent research reports. Barclays lowered their price objective on shares of Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Piper Sandler lowered their price objective on shares of Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.21.

Insulet Stock Performance

Insulet stock opened at $166.25 on Friday. The firm’s 50 day simple moving average is $173.97 and its 200-day simple moving average is $178.96. The company has a market cap of $11.64 billion, a P/E ratio of 57.13, a price-to-earnings-growth ratio of 2.99 and a beta of 0.98. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.73. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. During the same period last year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, equities research analysts predict that Insulet Co. will post 3.08 EPS for the current 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.