Insulet Co. (NASDAQ:PODD) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Insulet Co. (NASDAQ:PODD) by 57.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,519 shares of the medical instruments supplier’s stock after purchasing an additional 75,954 shares during the quarter. Jennison Associates LLC owned 0.30% of Insulet worth $45,027,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PODD. Consolidated Portfolio Review Corp grew its position in Insulet by 1.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 3,713 shares of the medical instruments supplier’s stock valued at $806,000 after acquiring an additional 57 shares in the last quarter. Lindbrook Capital LLC grew its position in Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. New York Life Investment Management LLC grew its position in Insulet by 0.8% in the third quarter. New York Life Investment Management LLC now owns 10,035 shares of the medical instruments supplier’s stock valued at $1,600,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC grew its position in Insulet by 3.6% in the fourth quarter. Avior Wealth Management LLC now owns 2,645 shares of the medical instruments supplier’s stock valued at $574,000 after acquiring an additional 91 shares in the last quarter. Finally, Allworth Financial LP grew its position in Insulet by 104.5% in the third quarter. Allworth Financial LP now owns 180 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter.

Insider Buying and Selling

In related news, Director Shacey Petrovic sold 11,609 shares of Insulet stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PODD. Piper Sandler reduced their target price on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Barclays reduced their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Stifel Nicolaus increased their target price on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. increased their target price on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.21.

Insulet Stock Performance

PODD stock opened at $167.27 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 2.96 and a beta of 0.98. Insulet Co. has a 1 year low of $125.82 and a 1 year high of $335.91. The stock’s fifty day moving average is $172.96 and its two-hundred day moving average is $179.44.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. The company had revenue of $509.80 million for the quarter, compared to analysts’ expectations of $461.26 million. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. On average, research analysts predict that Insulet Co. will post 3.08 EPS for the current year.

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.