Rhumbline Advisers Has $40.15 Million Stake in Insulet Co. (NASDAQ:PODD)

Rhumbline Advisers increased its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,882 shares of the medical instruments supplier's stock after buying an additional 10,135 shares during the quarter. Rhumbline Advisers owned 0.22% of Insulet worth $40,148,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PODD. Norges Bank bought a new position in shares of Insulet during the fourth quarter worth about $248,806,000. GAMMA Investing LLC grew its holdings in shares of Insulet by 27,298.6% during the first quarter. GAMMA Investing LLC now owns 664,141 shares of the medical instruments supplier's stock worth $1,744,100,000 after buying an additional 661,717 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Insulet in the 4th quarter valued at about $69,433,000. Alecta Tjanstepension Omsesidigt bought a new position in shares of Insulet in the 4th quarter valued at about $53,184,000. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after acquiring an additional 149,524 shares in the last quarter.

Insulet Stock Performance

Shares of NASDAQ PODD traded down $2.05 during trading hours on Thursday, reaching $317.16. 902,342 shares of the stock were exchanged, compared to its average volume of 709,281. The stock's fifty day simple moving average is $280.28 and its 200 day simple moving average is $272.91. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 54.78, a P/E/G ratio of 3.62 and a beta of 1.37. Insulet Co. has a 52 week low of $173.00 and a 52 week high of $329.33. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $543.20 million. During the same quarter last year, the firm earned $0.73 earnings per share. The company's revenue was up 28.8% on a year-over-year basis. Sell-side analysts predict that Insulet Co. will post 3.92 EPS for the current year.

Insider Transactions at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. The trade was a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John W. Kapples sold 5,278 shares of Insulet stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the completion of the sale, the senior vice president now owns 23,180 shares of the company's stock, valued at approximately $7,382,134.60. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 price objective for the company. Wall Street Zen upgraded Insulet from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company set a $322.00 price objective on Insulet in a report on Monday, April 28th. Stifel Nicolaus raised their price objective on Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. Finally, Raymond James restated an "outperform" rating and issued a $360.00 price objective (up previously from $328.00) on shares of Insulet in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Insulet currently has an average rating of "Moderate Buy" and an average price target of $318.41.

Insulet Company 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.