Polar Asset Management Partners Inc. Has $56.82 Million Stake in Insulet Co. (NASDAQ:PODD)

Polar Asset Management Partners Inc. trimmed its position in shares of Insulet Co. (NASDAQ:PODD) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,642 shares of the medical instruments supplier’s stock after selling 6,400 shares during the period. Insulet makes up 0.8% of Polar Asset Management Partners Inc.’s portfolio, making the stock its 23rd biggest holding. Polar Asset Management Partners Inc.’s holdings in Insulet were worth $56,820,000 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. ProShare Advisors LLC increased its holdings in shares of Insulet by 12.3% during the 4th quarter. ProShare Advisors LLC now owns 10,614 shares of the medical instruments supplier’s stock worth $2,771,000 after purchasing an additional 1,159 shares during the period. Quantinno Capital Management LP grew its position in Insulet by 104.4% during the fourth quarter. Quantinno Capital Management LP now owns 27,421 shares of the medical instruments supplier’s stock worth $7,159,000 after buying an additional 14,005 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in Insulet during the fourth quarter worth about $270,000. Nissay Asset Management Corp Japan ADV increased its stake in Insulet by 0.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,414 shares of the medical instruments supplier’s stock valued at $2,231,000 after acquiring an additional 78 shares during the period. Finally, NorthRock Partners LLC acquired a new position in Insulet in the 4th quarter valued at approximately $267,000.

Insulet Price Performance

Shares of PODD opened at $321.41 on Thursday. The stock has a 50 day simple moving average of $260.85 and a 200 day simple moving average of $265.20. Insulet Co. has a 52-week low of $170.67 and a 52-week high of $323.00. 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 capitalization of $22.62 billion, a PE ratio of 55.51, a P/E/G ratio of 3.62 and a beta of 1.26.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PODD. StockNews.com lowered Insulet from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company set a $322.00 price objective on shares of Insulet in a research note on Monday, April 28th. Royal Bank of Canada began coverage on shares of Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 price objective for the company. Finally, Piper Sandler upped their target price on shares of Insulet from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $306.53.

Insider Buying and Selling

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the business’s 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 sale, the director now directly owns 3,231 shares in the company, valued at $888,525. The trade was a 36.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

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.