Magnetar Financial LLC Has $7.12 Million Stock Holdings in Insulet Corporation $PODD

Key Points

• Magnetar Financial LLC trimmed its stake in Insulet (NASDAQ: PODD) by 23.2% in Q3, selling 6,973 shares and retaining 23,070 shares worth approximately $7.12 million.
• Insulet beat Q1 expectations, reporting EPS of $1.55 vs. $1.48 forecast and revenue of $783.8 million, up 31.2% year-over-year, indicating strong sales growth.
• Analysts hold a "Moderate Buy" consensus (20 Buys, 3 Holds, 1 Sell) with an average price target of $354.57, and a company director recently bought 2,030 shares at $246.23, reflecting insider confidence.

Magnetar Financial LLC trimmed its position in Insulet Corporation (NASDAQ:PODD - Free Report) by 23.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,070 shares of the medical instruments supplier's stock after selling 6,973 shares during the period. Magnetar Financial LLC's holdings in Insulet were worth $7,122,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PODD. Sage Mountain Advisors LLC grew its stake in Insulet by 4.6% in the third quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier's stock valued at $229,000 after acquiring an additional 33 shares during the period. Curi Capital LLC increased its holdings in shares of Insulet by 0.8% during the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier's stock valued at $1,365,000 after acquiring an additional 36 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of Insulet by 0.9% during the third quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier's stock worth $1,261,000 after purchasing an additional 37 shares during the period. Evelyn Partners Investment Management Services Ltd lifted its holdings in shares of Insulet by 28.7% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier's stock worth $55,000 after purchasing an additional 39 shares in the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Insulet by 5.1% in the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier's stock worth $253,000 after purchasing an additional 40 shares in the last quarter.

Insulet Stock Performance

NASDAQ PODD opened at $238.24 on Wednesday. The company has a fifty day moving average price of $261.60 and a 200-day moving average price of $298.92. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 68.07, a PEG ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. Insulet Corporation has a 1 year low of $233.29 and a 1 year high of $354.88.

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, beating analysts' consensus estimates of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million for the quarter, compared to analyst estimates of $768.31 million. During the same period last year, the firm earned $1.15 earnings per share. The firm's revenue was up 31.2% on a year-over-year basis. As a group, equities research analysts predict that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PODD. Weiss Ratings reissued a "hold (c)" rating on shares of Insulet in a research report on Thursday, January 22nd. JPMorgan Chase & Co. dropped 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. Leerink Partners reduced their price objective on shares of Insulet from $386.00 to $360.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Citigroup decreased their target price on shares of Insulet from $380.00 to $345.00 and set a "buy" rating for the company in a research report on Thursday, February 19th. Finally, Evercore set a $340.00 target price on shares of Insulet in a report on Thursday, February 19th. Twenty investment 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $354.57.

Insider Activity at Insulet

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director directly owned 17,483 shares of the company's stock, valued at approximately $4,304,839.09. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Insulet Company 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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