Renaissance Technologies LLC Boosts Stake in Insulet Co. (NASDAQ:PODD)

Renaissance Technologies LLC increased its holdings in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,993 shares of the medical instruments supplier's stock after buying an additional 49,900 shares during the quarter. Renaissance Technologies LLC owned 0.23% of Insulet worth $41,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PODD. SBI Securities Co. Ltd. bought a new position in Insulet in the 4th quarter valued at about $36,000. SRS Capital Advisors Inc. boosted its stake in shares of 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 purchasing an additional 56 shares in the last quarter. TD Private Client Wealth LLC raised its position in Insulet by 32.6% in the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier's stock valued at $53,000 after purchasing an additional 56 shares during the last quarter. Friedenthal Financial bought a new position in shares of Insulet during the fourth quarter valued at $57,000. Finally, Assetmark Inc. increased its stake in shares of Insulet by 1,447.1% in the fourth quarter. Assetmark Inc. now owns 263 shares of the medical instruments supplier's stock valued at $69,000 after buying an additional 246 shares during the period.

Insiders Place Their Bets

In related 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 owns 11,383 shares of the company's stock, valued at $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 position. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

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Analyst Ratings Changes

A number of research firms have issued reports on PODD. Piper Sandler lifted their price objective on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. TD Cowen boosted their price target on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a report on Friday, January 3rd. StockNews.com lowered shares of Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their target price on shares of Insulet from $245.00 to $293.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Finally, Citigroup boosted their price objective on Insulet from $310.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.06.

Insulet Stock Performance

Shares of PODD stock traded down $5.67 during trading on Wednesday, reaching $250.75. The company had a trading volume of 171,243 shares, compared to its average volume of 715,087. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a market capitalization of $17.61 billion, a PE ratio of 43.31, a PEG ratio of 3.62 and a beta of 1.30. The firm's 50 day simple moving average is $265.46 and its two-hundred day simple moving average is $260.69. 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 (NASDAQ:PODD - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.15. The company had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Sell-side analysts forecast that Insulet Co. will post 3.92 earnings per share for the current 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.