Jennison Associates LLC Acquires 75,954 Shares of Insulet Co. (NASDAQ:PODD)

Jennison Associates LLC raised its stake in Insulet Co. (NASDAQ:PODD) by 57.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 207,519 shares of the medical instruments supplier’s stock after buying an additional 75,954 shares during the quarter. Jennison Associates LLC’s holdings in Insulet were worth $45,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. acquired a new position in Insulet in the 4th quarter valued at $263,144,000. William Blair Investment Management LLC raised its holdings in Insulet by 145.1% in the 3rd quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after acquiring an additional 433,884 shares in the last quarter. Northern Trust Corp raised its holdings in Insulet by 7.6% in the 3rd quarter. Northern Trust Corp now owns 681,731 shares of the medical instruments supplier’s stock valued at $108,729,000 after acquiring an additional 47,938 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Insulet by 62.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock valued at $101,637,000 after acquiring an additional 244,922 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Insulet by 227.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after acquiring an additional 268,553 shares in the last quarter.

Insider Transactions at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total value of $1,891,338.28. Following the completion of the transaction, the director now directly owns 2,567 shares of the company’s stock, valued at $418,215.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Insulet Trading Up 1.7 %

NASDAQ PODD opened at $167.27 on Wednesday. The business’s 50-day moving average price is $172.96 and its two-hundred day moving average price is $179.44. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $335.91. The firm has a market capitalization of $11.71 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86.

Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The firm had revenue of $509.80 million for the quarter, compared to analyst estimates of $461.26 million. During the same quarter in the previous year, the company posted $0.55 EPS. The business’s revenue was up 37.9% on a year-over-year basis. On average, analysts expect that Insulet Co. will post 3.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PODD shares. Stifel Nicolaus lifted their price objective on Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Piper Sandler lowered their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Barclays lowered their price target on Insulet from $214.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.21.

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.