Arrowstreet Capital Limited Partnership Invests $9.82 Million in Insulet Co. (NASDAQ:PODD)

Arrowstreet Capital Limited Partnership purchased a new stake in Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 37,624 shares of the medical instruments supplier’s stock, valued at approximately $9,822,000. Arrowstreet Capital Limited Partnership owned approximately 0.05% of Insulet as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PODD. Integrated Wealth Concepts LLC increased its holdings in Insulet by 1.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock valued at $596,000 after buying an additional 42 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock worth $362,000 after acquiring an additional 42 shares during the period. Nisa Investment Advisors LLC increased its stake in Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after purchasing an additional 43 shares in the last quarter. Graypoint LLC increased its stake in Insulet by 5.3% in the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock valued at $243,000 after purchasing an additional 47 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 47 shares during the last quarter.

Insider Buying and Selling at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’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 sale, the director now directly owns 3,231 shares of the company’s stock, valued at approximately $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Insulet Trading Down 4.5 %

Shares of PODD stock opened at $245.26 on Monday. The firm’s 50-day simple moving average is $269.86 and its 200-day simple moving average is $259.86. 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. The firm has a market cap of $17.22 billion, a P/E ratio of 42.36, a PEG ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The company had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. As a group, equities analysts forecast that Insulet Co. will post 3.92 EPS for the current year.

Analyst Upgrades and Downgrades

PODD has been the subject of a number of research analyst reports. StockNews.com cut Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Citigroup raised their price objective on shares of Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company upped their target price on Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

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.