OLD National Bancorp IN Decreases Stake in Insulet Co. (NASDAQ:PODD)

OLD National Bancorp IN reduced its position in Insulet Co. (NASDAQ:PODD) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,239 shares of the medical instruments supplier’s stock after selling 240 shares during the period. OLD National Bancorp IN’s holdings in Insulet were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EFG Asset Management Americas Corp. boosted its position in Insulet by 7.9% in the 4th quarter. EFG Asset Management Americas Corp. now owns 9,180 shares of the medical instruments supplier’s stock valued at $1,992,000 after buying an additional 669 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Insulet by 2.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,186 shares of the medical instruments supplier’s stock worth $1,342,000 after purchasing an additional 137 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Insulet during the fourth quarter worth about $226,000. Signaturefd LLC lifted its position in shares of Insulet by 119.5% during the fourth quarter. Signaturefd LLC now owns 1,607 shares of the medical instruments supplier’s stock worth $349,000 after purchasing an additional 875 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Insulet by 64.1% during the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on PODD shares. JPMorgan Chase & Co. increased their price target on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Barclays dropped 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. Stifel Nicolaus increased 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. Finally, Piper Sandler dropped 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.21.

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now directly owns 2,567 shares in the company, valued at $418,215.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Insulet Trading Down 1.8 %

Insulet stock opened at $164.17 on Friday. The firm has a 50 day simple moving average of $172.00 and a 200-day simple moving average of $179.25. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.51 and a quick ratio of 2.62. The stock has a market capitalization of $11.50 billion, a PE ratio of 56.42, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. Insulet Co. has a 12-month low of $125.82 and a 12-month high of $335.91.

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

Insulet 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.