Alliancebernstein L.P. Trims Stake in Insulet Co. (NASDAQ:PODD)

Alliancebernstein L.P. decreased its holdings in Insulet Co. (NASDAQ:PODD - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,759 shares of the medical instruments supplier's stock after selling 7,604 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Insulet worth $24,739,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in Insulet during the fourth quarter valued at approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier's stock worth $2,192,000 after buying an additional 1,942 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Insulet by 86.2% in the third quarter. Orion Portfolio Solutions LLC now owns 7,826 shares of the medical instruments supplier's stock worth $1,822,000 after acquiring an additional 3,623 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Insulet by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 153,416 shares of the medical instruments supplier's stock valued at $35,708,000 after acquiring an additional 8,301 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Insulet by 2.8% in the third quarter. Stifel Financial Corp now owns 10,527 shares of the medical instruments supplier's stock valued at $2,450,000 after acquiring an additional 290 shares during the period.

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Analyst Upgrades and Downgrades

A number of research firms have issued reports on PODD. Royal Bank of Canada assumed coverage on Insulet in a research note on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target for the company. Raymond James reaffirmed an "outperform" rating and set a $328.00 target price (up from $294.00) on shares of Insulet in a report on Friday, February 21st. Canaccord Genuity Group lifted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. TD Cowen boosted their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Citigroup raised their target price on Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $292.06.

Insulet Price Performance

Shares of PODD stock traded up $2.52 during mid-day trading on Friday, hitting $253.99. The company had a trading volume of 596,739 shares, compared to its average volume of 718,834. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock's 50 day moving average price is $266.67 and its 200-day moving average price is $260.38. Insulet Co. has a 52-week low of $160.19 and a 52-week high of $289.46. The company has a market capitalization of $17.84 billion, a P/E ratio of 43.87, a P/E/G ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD - Get Free Report) last announced its quarterly 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 business had revenue of $597.50 million for the quarter, compared to analysts' expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Equities research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current year.

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the sale, the director now owns 3,231 shares in the company, valued at $888,525. This 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 corporate insiders.

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.