Magnetar Financial LLC Cuts Stock Position in Insulet Corporation $PODD

Magnetar Financial LLC lessened its holdings in Insulet Corporation (NASDAQ:PODD) by 23.2% in the third quarter, Holdings Channel reports. The firm owned 23,070 shares of the medical instruments supplier’s stock after selling 6,973 shares during the period. Magnetar Financial LLC’s holdings in Insulet were worth $7,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Insulet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,796,200 shares of the medical instruments supplier’s stock worth $2,715,651,000 after purchasing an additional 87,845 shares during the period. Geode Capital Management LLC grew its position in Insulet by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,927,543 shares of the medical instruments supplier’s stock valued at $603,211,000 after buying an additional 58,309 shares during the period. Norges Bank purchased a new stake in Insulet during the second quarter worth about $324,689,000. Federated Hermes Inc. increased its holdings in Insulet by 14.3% during the second quarter. Federated Hermes Inc. now owns 723,363 shares of the medical instruments supplier’s stock worth $227,266,000 after buying an additional 90,494 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Insulet by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 681,130 shares of the medical instruments supplier’s stock worth $213,997,000 after acquiring an additional 6,763 shares during the period.

Insiders Place Their Bets

In other Insulet news, Director Michael R. Minogue bought 2,030 shares of the stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $246.23 per share, with a total value of $499,846.90. Following the acquisition, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $238.24 on Wednesday. The firm has a market capitalization of $16.77 billion, a PE ratio of 68.07, a P/E/G ratio of 1.43 and a beta of 1.42. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $261.60 and a two-hundred day moving average price of $298.92. Insulet Corporation has a twelve month low of $233.29 and a twelve month high of $354.88.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.12% and a return on equity of 24.90%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Equities analysts forecast that Insulet Corporation will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Insulet from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Raymond James Financial decreased their price target on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. BTIG Research reaffirmed a “buy” rating and issued a $380.00 price target on shares of Insulet in a report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Insulet in a research note on Thursday, January 22nd. Finally, Barclays reissued an “underweight” rating and set a $286.00 price objective on shares of Insulet in a report on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.57.

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.