Gotham Asset Management LLC Has $1.78 Million Stake in Insulet Co. (NASDAQ:PODD)

Gotham Asset Management LLC grew its holdings in Insulet Co. (NASDAQ:PODD) by 57.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,827 shares of the medical instruments supplier’s stock after buying an additional 2,485 shares during the period. Gotham Asset Management LLC’s holdings in Insulet were worth $1,782,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PODD. SBI Securities Co. Ltd. bought a new position in shares of Insulet during the fourth quarter worth approximately $36,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Insulet by 30.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock worth $2,192,000 after purchasing an additional 1,942 shares during the period. Jennison Associates LLC increased its stake 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. Vontobel Holding Ltd. increased its stake in shares of Insulet by 4.3% during the fourth quarter. Vontobel Holding Ltd. now owns 2,423 shares of the medical instruments supplier’s stock worth $633,000 after purchasing an additional 100 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Insulet during the fourth quarter worth approximately $9,822,000.

Insulet Trading Up 0.8%

Shares of PODD opened at $324.75 on Friday. Insulet Co. has a 52-week low of $170.67 and a 52-week high of $325.22. The business’s fifty day moving average is $264.14 and its 200-day moving average is $266.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 56.09, a PEG ratio of 3.62 and a beta of 1.26.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.21. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The company had revenue of $569.00 million for the quarter, compared to analyst estimates of $543.20 million. During the same quarter last year, the company posted $0.73 EPS. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insider Activity

In related news, SVP John W. Kapples sold 5,278 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $318.47, for a total transaction of $1,680,884.66. Following the sale, the senior vice president now owns 23,180 shares of the company’s stock, valued at $7,382,134.60. This trade represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,825 shares of the firm’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 sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This trade represents a 36.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PODD shares. Barclays increased their target price on Insulet from $234.00 to $266.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Canaccord Genuity Group increased their target price on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Oppenheimer increased their target price on Insulet from $312.00 to $324.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Wolfe Research upgraded Insulet from a “peer perform” rating to an “outperform” rating and set a $350.00 price objective on the stock in a research note on Tuesday. Finally, Wells Fargo & Company set a $322.00 price objective on Insulet in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.53.

About Insulet

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.