Jennison Associates LLC Boosts Holdings in Insulet Co. (NASDAQ:PODD)

Jennison Associates LLC increased its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,342 shares of the medical instruments supplier's stock after purchasing an additional 28,375 shares during the period. Jennison Associates LLC owned 0.23% of Insulet worth $41,338,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Insulet by 84.1% during the third quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier's stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Insulet by 633.3% during the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier's stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Friedenthal Financial purchased a new position in Insulet during the fourth quarter valued at $57,000. TD Private Client Wealth LLC grew its stake in shares of Insulet by 32.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock worth $53,000 after buying an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Insulet by 106.1% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier's stock worth $80,000 after buying an additional 157 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Insulet from $280.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. Citigroup lifted their price objective on shares of Insulet from $283.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. BTIG Research lifted their price objective on shares of Insulet from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Canaccord Genuity Group lifted their price target on shares of Insulet from $269.00 to $304.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Sanford C. Bernstein initiated coverage on shares of Insulet in a research note on Wednesday, November 6th. They set an "outperform" rating and a $300.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $277.13.

Insider Activity

In other Insulet news, CAO Lauren Budden sold 915 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total transaction of $252,192.30. Following the sale, the chief accounting officer now owns 5,733 shares of the company's stock, valued at approximately $1,580,129.46. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Benjamin sold 12,394 shares of the firm's 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. The trade was a 52.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Insulet Trading Down 1.6 %

PODD stock traded down $4.59 during mid-day trading on Friday, hitting $283.08. 399,688 shares of the company were exchanged, compared to its average volume of 522,338. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $19.86 billion, a P/E ratio of 48.47, a PEG ratio of 3.61 and a beta of 1.23. The business has a fifty day simple moving average of $270.27 and a 200-day simple moving average of $241.25. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $0.90 EPS for the quarter, beating the consensus estimate of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The business had revenue of $543.90 million during the quarter, compared to analyst estimates of $518.50 million. During the same quarter last year, the firm posted $0.71 earnings per share. On average, equities research analysts predict that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

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.