Korea Investment CORP Decreases Stock Holdings in Insulet Corporation $PODD

Korea Investment CORP trimmed its position in shares of Insulet Corporation (NASDAQ:PODD) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,571 shares of the medical instruments supplier’s stock after selling 17,419 shares during the period. Korea Investment CORP’s holdings in Insulet were worth $16,848,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Winnow Wealth LLC purchased a new position in Insulet during the 3rd quarter valued at $862,000. Illinois Municipal Retirement Fund raised its holdings in Insulet by 41.3% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 12,030 shares of the medical instruments supplier’s stock worth $3,780,000 after purchasing an additional 3,514 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Insulet in the 3rd quarter worth about $2,778,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Insulet in the 2nd quarter worth about $1,081,000. Finally, Jump Financial LLC boosted its stake in shares of Insulet by 12.0% during the 2nd quarter. Jump Financial LLC now owns 66,170 shares of the medical instruments supplier’s stock valued at $20,789,000 after purchasing an additional 7,070 shares in the last quarter.

Insider Transactions at Insulet

In related news, Director Michael R. Minogue acquired 2,030 shares of the stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Insulet Price Performance

Shares of PODD opened at $238.24 on Wednesday. Insulet Corporation has a fifty-two week low of $233.29 and a fifty-two week high of $354.88. The firm’s 50-day simple moving average is $261.60 and its two-hundred day simple moving average is $298.92. The stock has a market cap of $16.77 billion, a PE ratio of 68.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81.

Insulet (NASDAQ:PODD) last released its earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $768.31 million. During the same period last year, the business earned $1.15 earnings per share. The business’s revenue was up 31.2% on a year-over-year basis. Analysts anticipate that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada boosted their price target 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. Raymond James Financial cut their price objective on Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Leerink Partners decreased their target price on Insulet from $386.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insulet currently has a consensus rating of “Moderate Buy” and an average target price of $354.57.

About Insulet

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.