Fred Alger Management LLC Sells 1,026 Shares of Insulet Co. (NASDAQ:PODD)

Fred Alger Management LLC cut its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,917 shares of the medical instruments supplier's stock after selling 1,026 shares during the quarter. Fred Alger Management LLC's holdings in Insulet were worth $4,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised its holdings in shares of Insulet by 21.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 110,170 shares of the medical instruments supplier's stock worth $28,762,000 after purchasing an additional 19,692 shares in the last quarter. Driehaus Capital Management LLC grew its position in Insulet by 120.3% in the fourth quarter. Driehaus Capital Management LLC now owns 99,886 shares of the medical instruments supplier's stock worth $26,077,000 after buying an additional 54,539 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Insulet in the fourth quarter valued at $305,000. Captrust Financial Advisors lifted its position in shares of Insulet by 24.1% during the 4th quarter. Captrust Financial Advisors now owns 2,185 shares of the medical instruments supplier's stock valued at $570,000 after acquiring an additional 425 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Insulet during the 4th quarter valued at $2,071,000.

Insider Transactions at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Insulet Stock Down 0.7%

Shares of PODD traded down $2.21 during midday trading on Tuesday, reaching $314.46. 1,469,339 shares of the stock were exchanged, compared to its average volume of 714,466. The company has a market cap of $22.13 billion, a price-to-earnings ratio of 54.31, a P/E/G ratio of 3.62 and a beta of 1.26. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $323.01. The firm has a 50 day simple moving average of $258.37 and a 200-day simple moving average of $264.46.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Raymond James restated an "outperform" rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Citigroup upped their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays lifted their target price on shares of Insulet from $234.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, StockNews.com downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $306.53.

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.