Jennison Associates LLC Grows Position in Insulet Corporation $PODD

Jennison Associates LLC grew its stake in Insulet Corporation (NASDAQ:PODD) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 105,512 shares of the medical instruments supplier’s stock after buying an additional 5,656 shares during the quarter. Jennison Associates LLC’s holdings in Insulet were worth $29,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Sage Mountain Advisors LLC boosted its position in Insulet by 4.6% in the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock worth $229,000 after purchasing an additional 33 shares in the last quarter. Glenmede Investment Management LP lifted its position in shares of Insulet by 1.6% during the 3rd quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier’s stock valued at $708,000 after buying an additional 35 shares in the last quarter. Curi Capital LLC lifted its position in shares of Insulet by 0.8% during the 2nd quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock valued at $1,365,000 after buying an additional 36 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Insulet by 0.9% during the 3rd quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock valued at $1,261,000 after buying an additional 37 shares in the last quarter. Finally, PDS Planning Inc lifted its position in shares of Insulet by 5.1% during the 3rd quarter. PDS Planning Inc now owns 821 shares of the medical instruments supplier’s stock valued at $253,000 after buying an additional 40 shares in the last quarter.

Insulet Trading Up 1.7%

Shares of PODD stock opened at $175.04 on Friday. The stock’s fifty day moving average is $216.37 and its two-hundred day moving average is $267.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 2.81. The firm has a market capitalization of $12.12 billion, a P/E ratio of 50.01, a PEG ratio of 1.03 and a beta of 1.20. Insulet Corporation has a fifty-two week low of $158.35 and a fifty-two week high of $354.88.

Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $783.80 million for 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 firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. Research analysts expect that Insulet Corporation will post 6.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PODD. Rothschild & Co Redburn reiterated a “neutral” rating and set a $220.00 target price (down from $380.00) on shares of Insulet in a research report on Friday, April 24th. BTIG Research decreased their target price on Insulet from $380.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Stifel Nicolaus decreased their target price on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Citigroup lowered Insulet from a “buy” rating to a “neutral” rating and decreased their target price for the company from $338.00 to $230.00 in a research report on Tuesday, April 7th. Finally, Zacks Research lowered Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $327.24.

Insiders Place Their Bets

In other news, Director Michael R. Minogue acquired 2,030 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the acquisition, the director owned 17,483 shares of the company’s stock, valued at approximately $4,304,839.09. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.

Insulet Company 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.