Cinctive Capital Management LP Buys Shares of 52,130 Insulet Co. (NASDAQ:PODD)

Cinctive Capital Management LP purchased a new position in shares of Insulet Co. (NASDAQ:PODD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 52,130 shares of the medical instruments supplier's stock, valued at approximately $13,610,000. Insulet accounts for approximately 0.7% of Cinctive Capital Management LP's investment portfolio, making the stock its 27th biggest holding. Cinctive Capital Management LP owned approximately 0.07% of Insulet at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of Insulet by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock worth $614,998,000 after acquiring an additional 79,982 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Insulet by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,779,167 shares of the medical instruments supplier's stock valued at $463,347,000 after purchasing an additional 40,566 shares during the last quarter. Norges Bank purchased a new stake in shares of Insulet during the 4th quarter valued at $248,806,000. Artisan Partners Limited Partnership increased its holdings in shares of Insulet by 24.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock worth $201,073,000 after buying an additional 149,524 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Insulet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock worth $168,902,000 after buying an additional 10,694 shares during the last quarter.

Remove Ads

Insider Activity at Insulet

In other news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $888,525. This trade represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Insulet Stock Up 2.1 %

Shares of PODD traded up $5.14 during trading on Monday, reaching $250.40. The company's stock had a trading volume of 532,999 shares, compared to its average volume of 738,433. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 43.25, a P/E/G ratio of 3.62 and a beta of 1.30. The company has a fifty day moving average of $269.86 and a two-hundred day moving average of $259.86. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46.

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

Analyst Ratings Changes

A number of research firms have issued reports on PODD. Stifel Nicolaus boosted their price target on Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Raymond James reiterated an "outperform" rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a report on Friday, February 21st. Citigroup increased their target price on shares of Insulet from $310.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Royal Bank of Canada assumed 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. Finally, StockNews.com downgraded shares of Insulet from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. 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 company currently has a consensus rating of "Moderate Buy" and an average 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.