Rock Springs Capital Management LP Sells 19,750 Shares of Insulet Co. (NASDAQ:PODD)

Rock Springs Capital Management LP cut its position in Insulet Co. (NASDAQ:PODD) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 114,250 shares of the medical instruments supplier’s stock after selling 19,750 shares during the period. Rock Springs Capital Management LP’s holdings in Insulet were worth $29,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Insulet in the fourth quarter valued at about $36,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Insulet by 30.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Ayrshire Capital Management LLC grew its position in shares of Insulet by 34.6% during the 4th quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier’s stock worth $6,001,000 after purchasing an additional 5,911 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Insulet by 21.8% during the fourth quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier’s stock worth $41,338,000 after purchasing an additional 28,375 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Insulet in the fourth quarter valued at approximately $1,234,000.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. This represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 11,383 shares in the company, valued at approximately $3,187,240. This represents 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.

Insulet Price Performance

Insulet stock opened at $246.80 on Monday. The stock has a 50-day moving average price of $263.29 and a two-hundred day moving average price of $261.21. Insulet Co. has a 12 month low of $160.19 and a 12 month high of $289.46. The company has a market capitalization of $17.33 billion, a PE ratio of 42.63, a P/E/G ratio of 3.62 and a beta of 1.30. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data 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. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The business had revenue of $597.50 million during the quarter, compared to analyst estimates of $582.02 million. Analysts expect that Insulet Co. will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price target on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research note on Friday, February 21st. 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 report on Friday, January 3rd. Piper Sandler upped their price target on shares of Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price objective on shares of Insulet from $304.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and a consensus price target 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.