Polar Asset Management Partners Inc. Sells 6,400 Shares of Insulet Co. (NASDAQ:PODD)

Polar Asset Management Partners Inc. cut its position in Insulet Co. (NASDAQ:PODD - Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 217,642 shares of the medical instruments supplier's stock after selling 6,400 shares during the period. Insulet makes up about 0.6% of Polar Asset Management Partners Inc.'s investment portfolio, making the stock its 25th largest holding. Polar Asset Management Partners Inc. owned about 0.31% of Insulet worth $56,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Insulet during the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of Insulet during the fourth quarter valued at approximately $42,000. SRS Capital Advisors Inc. lifted its position in Insulet by 43.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after purchasing an additional 56 shares during the period. Assetmark Inc. grew its position in Insulet by 1,447.1% in the 4th quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 246 shares during the period. Finally, Blue Trust Inc. grew its position in Insulet by 117.3% in the 4th quarter. Blue Trust Inc. now owns 276 shares of the medical instruments supplier's stock worth $72,000 after purchasing an additional 149 shares during the period.

Insulet Price Performance

Shares of NASDAQ:PODD traded down $3.09 during midday trading on Wednesday, reaching $323.55. 919,836 shares of the company were exchanged, compared to its average volume of 710,674. The stock has a market cap of $22.77 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 3.62 and a beta of 1.26. The business's fifty day moving average is $273.47 and its two-hundred day moving average is $270.65. Insulet Co. has a one year low of $171.61 and a one year high of $333.24. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, beating 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 firm had revenue of $569.00 million during the quarter, compared to analyst estimates of $543.20 million. During the same quarter last year, the business posted $0.73 earnings per share. The business's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, analysts predict that Insulet Co. will post 3.92 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PODD. Sanford C. Bernstein restated an "outperform" rating on shares of Insulet in a research note on Friday, May 16th. Stifel Nicolaus raised their target price on Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Piper Sandler boosted their price target on Insulet from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Wolfe Research upgraded shares of Insulet from a "peer perform" rating to an "outperform" rating and set a $350.00 price objective on the stock in a research note on Tuesday, May 13th. Finally, Raymond James increased their price target on shares of Insulet from $328.00 to $360.00 and gave the stock an "outperform" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $309.88.

About Insulet

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.