Prelude Capital Management LLC Sells 986 Shares of Insulet Co. (NASDAQ:PODD)

Prelude Capital Management LLC lowered its stake in Insulet Co. (NASDAQ:PODD – Get Rating) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,661 shares of the medical instruments supplier’s stock after selling 986 shares during the quarter. Prelude Capital Management LLC’s holdings in Insulet were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Clearbridge Investments LLC grew its stake in Insulet by 38.8% during the first quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock valued at $452,016,000 after acquiring an additional 474,545 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Insulet by 652.1% in the third quarter. Lord Abbett & CO. LLC now owns 298,819 shares of the medical instruments supplier’s stock worth $68,549,000 after purchasing an additional 259,089 shares during the period. Renaissance Technologies LLC raised its position in shares of Insulet by 106.9% in the first quarter. Renaissance Technologies LLC now owns 182,900 shares of the medical instruments supplier’s stock worth $48,723,000 after buying an additional 94,500 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Insulet by 137.6% during the third quarter. Victory Capital Management Inc. now owns 140,143 shares of the medical instruments supplier’s stock valued at $32,149,000 after buying an additional 81,165 shares during the period. Finally, Jennison Associates LLC bought a new stake in Insulet during the third quarter valued at $18,527,000.

Analysts Set New Price Targets

PODD has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on Insulet in a research report on Thursday, January 26th. They set a “peer perform” rating for the company. Citigroup increased their price target on shares of Insulet from $270.00 to $330.00 in a report on Monday, December 12th. Robert W. Baird lifted their price objective on shares of Insulet from $340.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Morgan Stanley increased their target price on Insulet from $320.00 to $325.00 and gave the company an “equal weight” rating in a research note on Friday, February 24th. Finally, Raymond James lifted their price target on shares of Insulet from $320.00 to $334.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.82.

Insulet Stock Up 8.2 %

PODD stock opened at $303.44 on Tuesday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 2.65 and a current ratio of 3.60. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 5,057.33 and a beta of 0.75. The business’s 50-day moving average is $291.62 and its two-hundred day moving average is $277.41. Insulet Co. has a fifty-two week low of $181.00 and a fifty-two week high of $320.00.

Insulet (NASDAQ:PODD – Get Rating) last released its earnings results on Thursday, February 23rd. The medical instruments supplier reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.31. The company had revenue of $369.70 million for the quarter, compared to the consensus estimate of $331.73 million. Insulet had a return on equity of 20.55% and a net margin of 0.35%. Insulet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, analysts forecast that Insulet Co. will post 1.26 earnings per share for the current year.

Insider Activity at Insulet

In other news, Director Shacey Petrovic sold 15,000 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $281.88, for a total transaction of $4,228,200.00. Following the sale, the director now directly owns 14,789 shares in the company, valued at approximately $4,168,723.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Insulet news, Director Shacey Petrovic sold 15,000 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $281.88, for a total value of $4,228,200.00. Following the completion of the sale, the director now owns 14,789 shares in the company, valued at approximately $4,168,723.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Alpuche sold 4,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $290.90, for a total value of $1,163,600.00. Following the completion of the transaction, the insider now owns 45,584 shares in the company, valued at $13,260,385.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,000 shares of company stock worth $6,507,080. 0.90% of the stock is owned by company insiders.

About Insulet

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Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.