Insulet Co. (NASDAQ:PODD) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP reduced its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 14.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,250 shares of the medical instruments supplier's stock after selling 19,750 shares during the period. Rock Springs Capital Management LP owned approximately 0.16% of Insulet worth $29,827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PODD. Baillie Gifford & Co. lifted its stake in shares of Insulet by 3.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Insulet by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock worth $463,347,000 after acquiring an additional 40,566 shares during the last quarter. Norges Bank bought a new position in Insulet in the 4th quarter valued at $248,806,000. Artisan Partners Limited Partnership lifted its position in shares of Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after purchasing an additional 149,524 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Insulet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock worth $168,902,000 after purchasing an additional 10,694 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PODD shares. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Raymond James reissued an "outperform" rating and set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. Piper Sandler increased their target price on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Canaccord Genuity Group upped their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, TD Cowen lifted their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $292.06.

Insulet Stock Performance

NASDAQ:PODD traded up $1.33 during mid-day trading on Friday, hitting $260.71. The company's stock had a trading volume of 465,388 shares, compared to its average volume of 713,475. The business's fifty day moving average is $260.21 and its two-hundred day moving average is $261.49. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 45.03, a PEG ratio of 3.62 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.