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

Arrowstreet Capital Limited Partnership bought a new stake in Insulet Co. (NASDAQ:PODD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 37,624 shares of the medical instruments supplier's stock, valued at approximately $9,822,000. Arrowstreet Capital Limited Partnership owned about 0.05% of Insulet at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Insulet in the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. raised its holdings in Insulet by 43.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 186 shares of the medical instruments supplier's stock valued at $49,000 after acquiring an additional 56 shares during the last quarter. Friedenthal Financial acquired a new position in Insulet in the 4th quarter valued at $57,000. TD Private Client Wealth LLC lifted its stake in shares of Insulet by 32.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after purchasing an additional 56 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Insulet by 1,447.1% during the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 246 shares during the last quarter.

Insulet Stock Up 1.0 %

Insulet stock traded up $2.52 during midday trading on Friday, hitting $253.99. 596,739 shares of the company were exchanged, compared to its average volume of 718,834. The company has a market cap of $17.84 billion, a PE ratio of 43.87, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company's fifty day moving average price is $266.67 and its 200-day moving average price is $260.38. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

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Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts' consensus estimates 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%. On average, research analysts predict that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $3,470,320.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the transaction, the director now owns 3,231 shares in the company, valued at $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

PODD has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Royal Bank of Canada assumed coverage on shares of Insulet in a report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price objective on the stock. Canaccord Genuity Group boosted 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 set a $328.00 price target (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

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.