Assenagon Asset Management S.A. Buys 24,761 Shares of Insulet Corporation $PODD

Key Points

• Assenagon Asset Management S.A. increased its stake in Insulet by 18.7%, buying 24,761 shares in Q4 to hold 156,979 shares (about 0.22%) valued at roughly $44.62 million.
• Insulet director Michael R. Minogue bought 2,030 shares at an average $246.23 on Feb. 25 (~$499,847), boosting his holdings to 17,483 shares (a 13.14% increase); company insiders own 0.39% of the stock.
• Insulet beat Q1 estimates (EPS $1.55 vs. $1.48; revenue $783.8M vs. $768.3M, +31.2% YoY), and analysts—despite trimming targets—hold a consensus "Moderate Buy" with an average price target of $354.24.

Assenagon Asset Management S.A. lifted its stake in Insulet Corporation (NASDAQ:PODD - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 156,979 shares of the medical instruments supplier's stock after acquiring an additional 24,761 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.22% of Insulet worth $44,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PODD. True Wealth Design LLC grew its stake in Insulet by 288.0% in the third quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier's stock valued at $30,000 after purchasing an additional 72 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 43 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Insulet during the 3rd quarter worth approximately $49,000. Quent Capital LLC acquired a new stake in shares of Insulet in the 3rd quarter valued at approximately $49,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Insulet in the 2nd quarter valued at approximately $51,000.

Insider Buying and Selling

In related news, Director Michael R. Minogue purchased 2,030 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director owned 17,483 shares in the company, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PODD shares. Oppenheimer lowered their target price on shares of Insulet from $365.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, February 19th. Sanford C. Bernstein cut their price target on shares of Insulet from $380.00 to $330.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. TD Cowen downgraded shares of Insulet from a "buy" rating to a "hold" rating and set a $294.00 price objective for the company. in a research report on Monday, January 26th. JPMorgan Chase & Co. lowered their price objective on shares of Insulet from $415.00 to $340.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Insulet in a report on Thursday, January 22nd. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Insulet presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.24.

Insulet Trading Down 0.7%

Shares of Insulet stock opened at $225.50 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. The business has a fifty day simple moving average of $250.03 and a two-hundred day simple moving average of $291.12. Insulet Corporation has a 1 year low of $216.49 and a 1 year high of $354.88. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 64.43, a P/E/G ratio of 1.36 and a beta of 1.42.

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

Insulet 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.

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