Lecap Asset Management Ltd. Makes New Investment in Insulet Corporation $PODD

Key Points

• Lecap Asset Management Ltd. acquired a new position of 8,929 shares (~$2.54M) in Insulet, representing about 1.0% of its portfolio and making the stock its fifth-largest holding.
• Multiple large funds materially increased or initiated stakes — including Worldquant Millennium Advisors (~$80.1M), Squarepoint and Munro (each ~227k shares, ~$70M), and Qube Research (~574k shares, ~$177.3M) — signaling notable institutional accumulation.
• Insulet beat Q1 estimates with EPS $1.55 (vs. $1.48) and revenue of $783.8M (+31.2% YoY); analysts hold a consensus "Moderate Buy" with a $334.38 price target, though several firms have recently cut targets or downgraded ratings.

Lecap Asset Management Ltd. acquired a new position in Insulet Corporation (NASDAQ:PODD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,929 shares of the medical instruments supplier's stock, valued at approximately $2,538,000. Insulet makes up about 1.0% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Worldquant Millennium Advisors LLC acquired a new position in shares of Insulet in the second quarter worth about $80,082,000. Squarepoint Ops LLC raised its position in shares of Insulet by 11,905.8% in the third quarter. Squarepoint Ops LLC now owns 227,270 shares of the medical instruments supplier's stock worth $70,165,000 after acquiring an additional 225,377 shares during the period. Munro Partners raised its position in shares of Insulet by 1,483.0% in the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier's stock worth $70,156,000 after acquiring an additional 212,885 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Insulet by 37.3% in the third quarter. Qube Research & Technologies Ltd now owns 574,365 shares of the medical instruments supplier's stock worth $177,324,000 after acquiring an additional 156,009 shares during the period. Finally, Parnassus Investments LLC acquired a new position in shares of Insulet in the third quarter worth about $46,525,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Leerink Partners decreased their price objective on shares of Insulet from $386.00 to $360.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Zacks Research downgraded shares of Insulet from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Canaccord Genuity Group decreased their price objective on shares of Insulet from $450.00 to $435.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Insulet in a research report on Thursday, January 22nd. Finally, Citigroup downgraded shares of Insulet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $338.00 to $230.00 in a research report on Tuesday, April 7th. Nineteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $334.38.

Insulet Stock Up 1.1%

PODD opened at $203.73 on Friday. Insulet Corporation has a twelve month low of $194.61 and a twelve month high of $354.88. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $227.50 and a 200 day moving average price of $275.51. The company has a market cap of $14.11 billion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47.

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

Insider Buying and Selling at Insulet

In related news, Director Michael R. Minogue purchased 2,030 shares of Insulet stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the transaction, the director directly owned 17,483 shares in the company, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

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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