Townsquare Capital LLC Increases Stock Position in Insulet Co. (NASDAQ:PODD)

Townsquare Capital LLC increased its position in shares of Insulet Co. (NASDAQ:PODD - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,102 shares of the medical instruments supplier's stock after purchasing an additional 1,515 shares during the quarter. Townsquare Capital LLC's holdings in Insulet were worth $4,465,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Horizon Investments LLC lifted its position in Insulet by 3.1% during the fourth quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier's stock worth $362,000 after buying an additional 42 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Insulet by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier's stock valued at $1,146,000 after purchasing an additional 43 shares during the period. Graypoint LLC increased its position in Insulet by 5.3% during the fourth quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier's stock worth $243,000 after purchasing an additional 47 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in Insulet by 9.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 538 shares of the medical instruments supplier's stock worth $140,000 after purchasing an additional 47 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Insulet by 2.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,113 shares of the medical instruments supplier's stock valued at $552,000 after purchasing an additional 48 shares during the last quarter.

Insider Activity

In related news, EVP Eric Benjamin sold 12,394 shares of the 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 sale, the executive vice president now owns 11,383 shares in the company, valued at $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 is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the transaction, the director now owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PODD. Stifel Nicolaus lifted their price target on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" 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 set an "outperform" rating and a $340.00 price target for the company. Canaccord Genuity Group upped their price objective on shares of Insulet from $304.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, February 21st. StockNews.com lowered Insulet from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.06.

Insulet Stock Down 1.6 %

NASDAQ:PODD traded down $3.93 during midday trading on Friday, hitting $246.80. 623,470 shares of the company were exchanged, compared to its average volume of 717,213. Insulet Co. has a fifty-two week low of $160.19 and a fifty-two week high of $289.46. The company has a market capitalization of $17.33 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 3.62 and a beta of 1.30. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a fifty day simple moving average of $263.29 and a 200 day simple moving average of $261.21.

Insulet (NASDAQ:PODD - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to analysts' expectations of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. As a group, equities analysts anticipate that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

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.