Bridgewater Associates LP Sells 3,412 Shares of Insulet Co. (NASDAQ:PODD)

Bridgewater Associates LP lowered its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,730 shares of the medical instruments supplier's stock after selling 3,412 shares during the period. Bridgewater Associates LP's holdings in Insulet were worth $2,018,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PODD. MML Investors Services LLC raised its stake in shares of Insulet by 9.3% during the third quarter. MML Investors Services LLC now owns 2,655 shares of the medical instruments supplier's stock valued at $618,000 after purchasing an additional 225 shares during the period. Virtu Financial LLC purchased a new stake in shares of Insulet during the third quarter valued at approximately $616,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Insulet during the third quarter valued at approximately $114,000. Tidal Investments LLC raised its stake in shares of Insulet by 5.2% during the third quarter. Tidal Investments LLC now owns 9,365 shares of the medical instruments supplier's stock valued at $2,180,000 after purchasing an additional 466 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of Insulet by 36.1% during the third quarter. Synovus Financial Corp now owns 2,929 shares of the medical instruments supplier's stock valued at $682,000 after purchasing an additional 777 shares during the period.

Wall Street Analyst Weigh In

PODD has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Wells Fargo & Company raised their target price on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group raised their price target on shares of Insulet from $304.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Raymond James reiterated an "outperform" rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $292.06.

Insider Transactions at Insulet

In related news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company's stock, valued at $888,525. This trade represents a 36.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

Insulet Stock Up 5.8 %

Shares of PODD traded up $14.29 during trading hours on Thursday, hitting $260.78. 191,551 shares of the company were exchanged, compared to its average volume of 713,580. The company has a market cap of $18.31 billion, a PE ratio of 45.04, a PEG ratio of 3.62 and a beta of 1.30. The firm's 50 day moving average is $261.03 and its 200-day moving average is $261.05. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $289.46. 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 released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. On average, equities research analysts forecast that Insulet Co. will post 3.92 EPS for the current fiscal year.

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.