William Blair Investment Management LLC Sells 289,636 Shares of Insulet Corporation $PODD

William Blair Investment Management LLC reduced its stake in shares of Insulet Corporation (NASDAQ:PODD) by 49.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 293,503 shares of the medical instruments supplier’s stock after selling 289,636 shares during the quarter. William Blair Investment Management LLC owned 0.42% of Insulet worth $90,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of Insulet by 44.8% during the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 64 shares in the last quarter. Arkadios Wealth Advisors grew its position in Insulet by 31.5% in the second quarter. Arkadios Wealth Advisors now owns 1,639 shares of the medical instruments supplier’s stock valued at $515,000 after acquiring an additional 393 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Insulet by 19,550.0% during the second quarter. Hantz Financial Services Inc. now owns 786 shares of the medical instruments supplier’s stock worth $247,000 after acquiring an additional 782 shares in the last quarter. Assetmark Inc. raised its stake in Insulet by 109.1% during the second quarter. Assetmark Inc. now owns 529 shares of the medical instruments supplier’s stock worth $166,000 after acquiring an additional 276 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Insulet by 6.0% in the 2nd quarter. Amalgamated Bank now owns 15,799 shares of the medical instruments supplier’s stock valued at $4,964,000 after purchasing an additional 890 shares in the last quarter.

Insider Buying and Selling at Insulet

In other Insulet news, Director Michael R. Minogue purchased 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, with a total value of $499,846.90. Following the transaction, the director owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PODD. Royal Bank Of Canada raised their target price on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Leerink Partners reduced their price objective on Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Barclays reiterated an “underweight” rating and issued a $286.00 target price on shares of Insulet in a research report on Thursday, February 19th. Jefferies Financial Group boosted their price target on Insulet from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Stifel Nicolaus reduced their price target on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.57.

Insulet Trading Down 1.9%

Shares of PODD stock opened at $246.61 on Monday. Insulet Corporation has a fifty-two week low of $230.05 and a fifty-two week high of $354.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The stock has a 50 day simple moving average of $268.21 and a two-hundred day simple moving average of $303.09. The company has a market cap of $17.36 billion, a P/E ratio of 70.46, a PEG ratio of 1.47 and a beta of 1.42.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The firm had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. During the same quarter in the prior year, the business earned $1.15 earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Research analysts forecast that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.