AXQ Capital LP Purchases New Position in Insulet Co. (NASDAQ:PODD)

AXQ Capital LP purchased a new position 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 & Exchange Commission. The institutional investor purchased 2,776 shares of the medical instruments supplier's stock, valued at approximately $725,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Insulet by 3.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock worth $614,998,000 after purchasing an additional 79,982 shares in the last quarter. Geode Capital Management LLC grew its stake in Insulet by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier's stock worth $403,339,000 after buying an additional 22,850 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Insulet by 27.6% during the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier's stock worth $175,697,000 after buying an additional 163,388 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Insulet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock valued at $168,902,000 after acquiring an additional 10,694 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Insulet by 7.6% in the 4th quarter. Fisher Asset Management LLC now owns 377,694 shares of the medical instruments supplier's stock worth $98,605,000 after acquiring an additional 26,594 shares in the last quarter.

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Insulet Stock Down 1.7 %

Shares of PODD traded down $4.61 during mid-day trading on Thursday, hitting $260.27. 636,814 shares of the company's stock were exchanged, compared to its average volume of 691,277. 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 52 week low of $160.19 and a 52 week high of $289.46. The company has a market cap of $18.28 billion, a PE ratio of 44.95, a P/E/G ratio of 3.62 and a beta of 1.29. The company has a 50-day simple moving average of $272.28 and a 200 day simple moving average of $258.24.

Insulet (NASDAQ:PODD - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. On average, research analysts forecast that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares of the company's stock, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Eric Benjamin sold 12,394 shares of the company's 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 completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Insulet from $280.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, December 12th. Royal Bank of Canada started coverage on shares of Insulet in a research report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target on the stock. Citigroup raised their price objective on shares of Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group upped their target price on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company increased their price target on shares of Insulet from $305.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.06.

Insulet 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.