Westfield Capital Management Co. LP Sells 11,362 Shares of Insulet Corporation $PODD

Westfield Capital Management Co. LP trimmed its holdings in Insulet Corporation (NASDAQ:PODD) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 201,387 shares of the medical instruments supplier’s stock after selling 11,362 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Insulet were worth $62,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Insulet in the second quarter valued at $324,689,000. Qube Research & Technologies Ltd purchased a new position in Insulet during the 2nd quarter valued at about $131,439,000. Worldquant Millennium Advisors LLC purchased a new position in Insulet during the 2nd quarter valued at about $80,082,000. Munro Partners increased its position in shares of Insulet by 1,483.0% during the third quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after buying an additional 212,885 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in shares of Insulet in the third quarter worth about $46,525,000.

Insulet Stock Up 1.4%

Shares of NASDAQ:PODD opened at $251.50 on Friday. The firm has a market capitalization of $17.71 billion, a PE ratio of 71.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. Insulet Corporation has a 52-week low of $230.05 and a 52-week high of $354.88. The firm has a fifty day moving average of $269.07 and a 200 day moving average of $303.58.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $783.80 million during the quarter, compared to analyst estimates of $768.31 million. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. As a group, research analysts anticipate that Insulet Corporation will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Insulet news, Director Michael R. Minogue purchased 2,030 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $246.23 per share, with a total value of $499,846.90. Following the completion of the purchase, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

PODD has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Insulet from $415.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. UBS Group restated a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Zacks Research downgraded Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Citigroup reduced their target price on Insulet from $380.00 to $345.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, TD Cowen lowered Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price on the stock. in a research note on Monday, January 26th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $354.57.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.