Rhenman & Partners Asset Management AB Purchases 17,000 Shares of Insulet Co. (NASDAQ:PODD)

Rhenman & Partners Asset Management AB lifted its position in Insulet Co. (NASDAQ:PODD - Free Report) by 42.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,000 shares of the medical instruments supplier's stock after purchasing an additional 17,000 shares during the quarter. Insulet comprises approximately 1.5% of Rhenman & Partners Asset Management AB's portfolio, making the stock its 24th largest holding. Rhenman & Partners Asset Management AB owned approximately 0.08% of Insulet worth $14,881,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of Insulet during the fourth quarter valued at $36,000. SRS Capital Advisors Inc. lifted its position in Insulet by 43.1% during the fourth 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 during the last quarter. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 56 shares during the period. Friedenthal Financial purchased a new stake in Insulet in the 4th quarter worth about $57,000. Finally, Assetmark Inc. boosted its stake 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 valued at $69,000 after purchasing an additional 246 shares during the period.

Insulet Stock Performance

Shares of PODD traded down $15.07 during mid-day trading on Thursday, hitting $249.65. 374,921 shares of the company's stock were exchanged, compared to its average volume of 717,111. 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 52 week low of $160.19 and a 52 week high of $289.46. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 42.97, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The stock's 50-day simple moving average is $267.71 and its 200-day simple moving average is $260.19.

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

Insider Buying and Selling

In related news, EVP Eric Benjamin sold 12,394 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 11,383 shares of the company's stock, valued at $3,187,240. This trade represents a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet 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 transaction, the director now directly 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PODD shares. Citigroup increased their target price 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. Royal Bank of Canada started coverage on shares of Insulet in a research report on Thursday, March 6th. They issued an "outperform" rating and a $340.00 target price for the company. StockNews.com cut Insulet from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised 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. Finally, TD Cowen lifted their target price on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $292.06.

About Insulet

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.