Jennison Associates LLC Increases Stake in Insulet Co. (NASDAQ:PODD)

Jennison Associates LLC raised its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 57.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 207,519 shares of the medical instruments supplier's stock after purchasing an additional 75,954 shares during the period. Jennison Associates LLC owned 0.30% of Insulet worth $45,027,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PODD. CWM LLC increased its stake in shares of Insulet by 84.0% during the third quarter. CWM LLC now owns 2,287 shares of the medical instruments supplier's stock valued at $365,000 after purchasing an additional 1,044 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Insulet by 332.0% during the third quarter. AE Wealth Management LLC now owns 3,784 shares of the medical instruments supplier's stock valued at $604,000 after buying an additional 2,908 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Insulet by 57.8% during the third quarter. Arkadios Wealth Advisors now owns 1,592 shares of the medical instruments supplier's stock valued at $254,000 after buying an additional 583 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Insulet by 91.9% during the third quarter. Avior Wealth Management LLC now owns 2,554 shares of the medical instruments supplier's stock valued at $407,000 after buying an additional 1,223 shares during the last quarter. Finally, Mach 1 Financial Group LLC purchased a new stake in shares of Insulet during the third quarter valued at approximately $475,000.

Analyst Ratings Changes

PODD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Insulet from $190.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of Insulet from $163.00 to $208.00 and gave the company a "hold" rating in a report on Monday, February 5th. Piper Sandler cut their price target on shares of Insulet from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, February 23rd. Finally, Barclays cut their price target on shares of Insulet from $214.00 to $213.00 and set an "equal weight" rating on the stock in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Insulet currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.21.

Insider Activity

In other news, Director Shacey Petrovic sold 11,609 shares of the firm's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the sale, the director now directly owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Insulet Stock Performance

Shares of Insulet stock traded down $0.02 on Wednesday, hitting $167.25. 664,165 shares of the company's stock were exchanged, compared to its average volume of 865,190. The company has a 50-day simple moving average of $172.53 and a 200-day simple moving average of $179.35. The stock has a market capitalization of $11.71 billion, a PE ratio of 57.47, a PEG ratio of 2.96 and a beta of 0.98. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $335.91. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.73. The business had revenue of $509.80 million for the quarter, compared to analysts' expectations of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The company's revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. As a group, equities analysts anticipate that Insulet Co. will post 3.08 EPS for the current year.

Insulet 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.