PDT Partners LLC Has $4.51 Million Stake in Insulet Co. (NASDAQ:PODD)

PDT Partners LLC lessened its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 19.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,290 shares of the medical instruments supplier's stock after selling 4,202 shares during the period. PDT Partners LLC's holdings in Insulet were worth $4,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Insulet during the fourth quarter worth approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Ayrshire Capital Management LLC grew its position in Insulet by 34.6% in the 4th quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier's stock worth $6,001,000 after purchasing an additional 5,911 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Insulet by 21.8% during the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier's stock worth $41,338,000 after purchasing an additional 28,375 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of Insulet during the fourth quarter valued at about $1,234,000.

Insulet Price Performance

Insulet stock traded up $6.76 on Friday, reaching $257.01. The company's stock had a trading volume of 838,676 shares, compared to its average volume of 716,935. The business's fifty day moving average price is $257.71 and its 200 day moving average price is $262.07. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 3.62 and a beta of 1.30. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last issued 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 business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Equities analysts expect that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insider Activity at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction 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 transaction, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PODD. Royal Bank of Canada began coverage on Insulet in a research report on Thursday, March 6th. They set an "outperform" rating and a $340.00 target price on the stock. Piper Sandler lifted their price objective on Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Citigroup upped their target price on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, February 21st. 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. Finally, Barclays increased their price objective on shares of Insulet from $234.00 to $266.00 and gave the company an "equal weight" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $293.94.

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.