Hudson Bay Capital Management LP Takes Position in Insulet Corporation $PODD

Hudson Bay Capital Management LP purchased a new stake in Insulet Corporation (NASDAQ:PODD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,504 shares of the medical instruments supplier’s stock, valued at approximately $3,860,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in shares of Insulet by 288.0% in the 3rd quarter. True Wealth Design LLC now owns 97 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 72 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Insulet by 48.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 131 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 43 shares during the period. Quent Capital LLC purchased a new stake in Insulet during the 3rd quarter valued at $49,000. Measured Wealth Private Client Group LLC bought a new stake in Insulet in the third quarter worth $49,000. Finally, Osterweis Capital Management Inc. bought a new stake in Insulet in the second quarter worth $51,000.

Analyst Ratings Changes

A number of research firms have weighed in on PODD. Raymond James Financial cut their price objective on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. The Goldman Sachs Group lowered their target price on shares of Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a report on Thursday, February 19th. UBS Group reaffirmed a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Evercore set a $340.00 price objective on shares of Insulet in a research report on Thursday, February 19th. Finally, Sanford C. Bernstein decreased their price objective on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.24.

Insider Activity at Insulet

In related news, Director Michael R. Minogue bought 2,030 shares of Insulet stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $246.23 per share, with a total value of $499,846.90. Following the completion of the transaction, the director owned 17,483 shares in the company, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

Insulet Stock Down 0.7%

Shares of PODD opened at $227.10 on Friday. The firm has a fifty day moving average price of $252.11 and a 200-day moving average price of $293.18. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $15.99 billion, a P/E ratio of 64.89, a P/E/G ratio of 1.36 and a beta of 1.42. Insulet Corporation has a 12-month low of $216.49 and a 12-month high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. During the same quarter last year, the firm posted $1.15 EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.