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

Cinctive Capital Management LP bought a new stake in shares of Insulet Co. (NASDAQ:PODD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 52,130 shares of the medical instruments supplier’s stock, valued at approximately $13,610,000. Insulet accounts for 0.7% of Cinctive Capital Management LP’s holdings, making the stock its 27th largest position. Cinctive Capital Management LP owned about 0.07% of Insulet as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Insulet in the fourth quarter valued at about $248,806,000. Raymond James Financial Inc. bought a new stake in shares of Insulet in the 4th quarter valued at approximately $69,433,000. Alecta Tjanstepension Omsesidigt bought a new stake in shares of Insulet in the 4th quarter valued at approximately $53,184,000. Artisan Partners Limited Partnership raised its position in Insulet by 24.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier’s stock valued at $201,073,000 after acquiring an additional 149,524 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Insulet during the fourth quarter valued at approximately $28,422,000.

Insider Buying and Selling at Insulet

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eric Benjamin sold 12,394 shares of Insulet 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. The trade was a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PODD. Royal Bank of Canada started coverage on shares of Insulet in a research note on Thursday, March 6th. They set an “outperform” rating and a $340.00 price target on the stock. Citigroup boosted their price target on Insulet from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Stifel Nicolaus raised their price objective on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Piper Sandler increased their price target on Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, StockNews.com cut 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.06.

Insulet Trading Up 0.2 %

Shares of Insulet stock opened at $263.18 on Wednesday. The stock has a market capitalization of $18.48 billion, a P/E ratio of 45.45, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. 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 company has a 50-day simple moving average of $271.17 and a 200 day simple moving average of $259.40.

Insulet (NASDAQ:PODD) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) 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 analysts’ expectations of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Research analysts expect that Insulet Co. will post 3.92 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.