Donoghue Forlines LLC Invests $2.04 Million in Insulet Co. (NASDAQ:PODD)

Donoghue Forlines LLC bought a new stake in shares of Insulet Co. (NASDAQ:PODD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,812 shares of the medical instruments supplier’s stock, valued at approximately $2,039,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PODD. Marshall Wace LLP bought a new stake in shares of Insulet during the 2nd quarter valued at $99,978,000. Baillie Gifford & Co. lifted its position in Insulet by 20.7% during the third quarter. Baillie Gifford & Co. now owns 2,275,701 shares of the medical instruments supplier’s stock valued at $529,669,000 after purchasing an additional 389,639 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in Insulet by 5,928.1% during the third quarter. Mizuho Securities USA LLC now owns 325,821 shares of the medical instruments supplier’s stock valued at $75,835,000 after purchasing an additional 320,416 shares during the period. Charles Schwab Investment Management Inc. increased its position in Insulet by 43.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 636,265 shares of the medical instruments supplier’s stock worth $148,091,000 after buying an additional 193,839 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Insulet by 27.6% in the third quarter. Westfield Capital Management Co. LP now owns 754,872 shares of the medical instruments supplier’s stock worth $175,697,000 after buying an additional 163,388 shares during the period.

Insulet Stock Up 0.9 %

Shares of PODD opened at $278.65 on Thursday. The business’s 50 day simple moving average is $266.52 and its 200-day simple moving average is $234.38. Insulet Co. has a 1 year low of $160.19 and a 1 year high of $282.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 47.71, a price-to-earnings-growth ratio of 3.47 and a beta of 1.22.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.13. Insulet had a net margin of 21.22% and a return on equity of 27.98%. The business had revenue of $543.90 million for the quarter, compared to the consensus estimate of $518.50 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, equities analysts expect that Insulet Co. will post 3.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Sanford C. Bernstein assumed coverage on shares of Insulet in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $300.00 price target for the company. TD Cowen raised their price objective on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Canaccord Genuity Group upped their target price on shares of Insulet from $269.00 to $304.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Morgan Stanley increased their price target on Insulet from $234.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.81.

Insider Activity at Insulet

In related news, CAO Lauren Budden sold 915 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $3,470,320.00. Following the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. This trade represents a 52.13 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Insulet Company 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.