Envestnet Asset Management Inc. Decreases Stake in Insulet Co. (NASDAQ:PODD)

Envestnet Asset Management Inc. cut its holdings in Insulet Co. (NASDAQ:PODD – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,949 shares of the medical instruments supplier’s stock after selling 196 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Insulet were worth $12,349,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. TD Asset Management Inc boosted its stake in shares of Insulet by 10.4% in the fourth quarter. TD Asset Management Inc now owns 48,182 shares of the medical instruments supplier’s stock valued at $14,184,000 after buying an additional 4,556 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Insulet by 7.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,021 shares of the medical instruments supplier’s stock valued at $6,306,000 after buying an additional 1,460 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Insulet by 5.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,665 shares of the medical instruments supplier’s stock valued at $1,668,000 after buying an additional 283 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Insulet by 1.0% in the fourth quarter. Synovus Financial Corp now owns 3,921 shares of the medical instruments supplier’s stock valued at $1,154,000 after buying an additional 37 shares in the last quarter. Finally, Lisanti Capital Growth LLC boosted its stake in shares of Insulet by 47.1% in the fourth quarter. Lisanti Capital Growth LLC now owns 20,385 shares of the medical instruments supplier’s stock valued at $6,001,000 after buying an additional 6,525 shares in the last quarter.

Insider Buying and Selling at Insulet

In other Insulet news, CFO Wayde D. Mcmillan sold 1,255 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $318.31, for a total transaction of $399,479.05. Following the completion of the sale, the chief financial officer now owns 22,865 shares of the company’s stock, valued at $7,278,158.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Wayde D. Mcmillan sold 1,255 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $318.31, for a total value of $399,479.05. Following the completion of the sale, the chief financial officer now owns 22,865 shares of the company’s stock, valued at $7,278,158.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Alpuche sold 23,401 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $305.15, for a total value of $7,140,815.15. Following the completion of the sale, the insider now directly owns 45,584 shares of the company’s stock, valued at approximately $13,909,957.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,656 shares of company stock valued at $9,819,174. Company insiders own 0.80% of the company’s stock.

Insulet Stock Performance

Insulet stock opened at $319.72 on Wednesday. The firm has a market capitalization of $22.28 billion, a P/E ratio of 280.99 and a beta of 0.80. The stock has a fifty day moving average price of $311.94 and a 200 day moving average price of $298.49. Insulet Co. has a 52 week low of $181.00 and a 52 week high of $335.91. The company has a current ratio of 3.47, a quick ratio of 2.46 and a debt-to-equity ratio of 2.72.

Insulet (NASDAQ:PODD – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.14. Insulet had a return on equity of 17.29% and a net margin of 0.04%. The firm had revenue of $358.10 million during the quarter, compared to the consensus estimate of $330.21 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that Insulet Co. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Insulet from $328.00 to $360.00 in a report on Friday, May 5th. Robert W. Baird lifted their price objective on Insulet from $350.00 to $370.00 in a report on Friday, May 5th. Stifel Nicolaus lifted their price objective on Insulet from $300.00 to $342.00 and gave the stock a “hold” rating in a report on Thursday, April 20th. Morgan Stanley lifted their price objective on Insulet from $320.00 to $325.00 and gave the stock an “equal weight” rating in a report on Friday, February 24th. Finally, StockNews.com assumed coverage on Insulet in a report on Thursday, March 16th. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $330.00.

Insulet Company Profile

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Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.