Alliancebernstein L.P. Has $24.74 Million Stake in Insulet Co. (NASDAQ:PODD)

Alliancebernstein L.P. lessened its holdings in shares of Insulet Co. (NASDAQ:PODD) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 94,759 shares of the medical instruments supplier’s stock after selling 7,604 shares during the period. Alliancebernstein L.P. owned 0.14% of Insulet worth $24,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Insulet by 43.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,291 shares of the medical instruments supplier’s stock worth $1,381,000 after purchasing an additional 1,610 shares during the last quarter. IPG Investment Advisors LLC bought a new position in Insulet during the 4th quarter worth approximately $1,496,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Insulet during the fourth quarter worth $9,822,000. Allstate Corp acquired a new position in shares of Insulet in the 4th quarter valued at $545,000. Finally, DnB Asset Management AS increased its position in shares of Insulet by 5.7% in the 4th quarter. DnB Asset Management AS now owns 62,565 shares of the medical instruments supplier’s stock valued at $16,334,000 after buying an additional 3,370 shares in the last quarter.

Insider Activity

In related news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares in the company, valued at $3,187,240. The trade was a 52.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the transaction, the director now directly 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. 0.47% of the stock is owned by company insiders.

Insulet Price Performance

NASDAQ:PODD opened at $256.23 on Tuesday. The company has a market cap of $17.99 billion, a P/E ratio of 44.25, a P/E/G ratio of 3.62 and a beta of 1.30. The firm’s fifty day moving average price is $269.47 and its two-hundred day moving average price is $259.99. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80.

Insulet (NASDAQ:PODD) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million during the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Equities analysts expect that Insulet Co. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada assumed coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price on the stock. TD Cowen raised their target price 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. Stifel Nicolaus boosted their price target on shares of Insulet from $245.00 to $293.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Canaccord Genuity Group raised their price objective on Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.06.

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.