Victory Capital Management Inc. Has $23.37 Million Stock Holdings in Insulet Co. (NASDAQ:PODD)

Victory Capital Management Inc. trimmed its position in shares of Insulet Co. (NASDAQ:PODD – Get Rating) by 42.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 80,903 shares of the medical instruments supplier’s stock after selling 59,240 shares during the period. Victory Capital Management Inc.’s holdings in Insulet were worth $23,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PODD. Allworth Financial LP raised its position in shares of Insulet by 166.7% during the fourth quarter. Allworth Financial LP now owns 88 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Huntington National Bank increased its holdings in Insulet by 448.4% in the third quarter. Huntington National Bank now owns 170 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Bessemer Group Inc. bought a new stake in Insulet in the third quarter worth approximately $53,000. Spartan Planning & Wealth Management bought a new stake in Insulet in the fourth quarter worth approximately $157,000. Finally, Profund Advisors LLC bought a new stake in Insulet in the fourth quarter worth approximately $205,000.

Insulet Price Performance

Shares of NASDAQ PODD opened at $301.03 on Monday. The firm has a market capitalization of $20.98 billion, a P/E ratio of 257.29 and a beta of 0.80. The company has a quick ratio of 2.46, a current ratio of 3.47 and a debt-to-equity ratio of 2.72. The stock’s 50-day simple moving average is $316.99 and its two-hundred day simple moving average is $302.25. Insulet Co. has a twelve month low of $191.77 and a twelve month high of $335.91.

Insulet (NASDAQ:PODD – Get Rating) last announced its earnings results on Thursday, May 4th. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.14. The business had revenue of $358.10 million for the quarter, compared to analyst estimates of $330.21 million. Insulet had a return on equity of 17.29% and a net margin of 0.04%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. As a group, equities analysts anticipate that Insulet Co. will post 1.34 EPS for the current fiscal year.

Insider Transactions at Insulet

In other news, insider Charles Alpuche sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $290.90, for a total value of $1,163,600.00. Following the completion of the transaction, the insider now directly owns 45,584 shares in the company, valued at approximately $13,260,385.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Wayde D. Mcmillan sold 1,255 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $318.31, for a total transaction of $399,479.05. Following the transaction, the chief financial officer now directly owns 22,865 shares in the company, valued at approximately $7,278,158.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Charles Alpuche sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $290.90, for a total value of $1,163,600.00. Following the transaction, the insider now owns 45,584 shares in the company, valued at $13,260,385.60. The disclosure for this sale can be found here. In the last three months, insiders sold 32,656 shares of company stock worth $9,819,174. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com assumed coverage on Insulet in a research report on Thursday. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on Insulet from $300.00 to $342.00 and gave the stock a “hold” rating in a research report on Thursday, April 20th. Robert W. Baird boosted their price objective on Insulet from $350.00 to $370.00 in a research report on Friday, May 5th. Piper Sandler upped their price target on Insulet from $340.00 to $360.00 in a research report on Friday, May 5th. Finally, BTIG Research upped their price target on Insulet from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Insulet currently has a consensus rating of “Hold” and a consensus price target of $330.00.

About Insulet

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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.