Altium Capital Management LP lowered its stake in Insulet Co. (NASDAQ:PODD) by 19.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,000 shares of the medical instruments supplier’s stock after selling 4,000 shares during the quarter. Altium Capital Management LP’s holdings in Insulet were worth $4,667,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Viking Global Investors LP raised its position in Insulet by 114.3% during the first quarter. Viking Global Investors LP now owns 1,035,964 shares of the medical instruments supplier’s stock worth $270,304,000 after acquiring an additional 552,435 shares in the last quarter. Winslow Capital Management LLC increased its holdings in shares of Insulet by 169.7% during the first quarter. Winslow Capital Management LLC now owns 716,255 shares of the medical instruments supplier’s stock worth $186,885,000 after buying an additional 450,706 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in Insulet in the first quarter valued at $99,330,000. FIL Ltd acquired a new position in shares of Insulet in the 1st quarter valued at about $72,965,000. Finally, Principal Financial Group Inc. grew its stake in shares of Insulet by 1,543.7% in the 1st quarter. Principal Financial Group Inc. now owns 178,525 shares of the medical instruments supplier’s stock valued at $46,580,000 after buying an additional 167,664 shares during the period. 99.99% of the stock is currently owned by hedge funds and other institutional investors.
PODD traded up $3.47 on Thursday, hitting $303.72. 7,528 shares of the company’s stock were exchanged, compared to its average volume of 445,072. Insulet Co. has a fifty-two week low of $214.93 and a fifty-two week high of $309.99. The stock has a market cap of $20.92 billion, a price-to-earnings ratio of -658.22 and a beta of 0.67. The company has a current ratio of 5.87, a quick ratio of 4.95 and a debt-to-equity ratio of 2.69. The firm has a 50-day moving average price of $291.93 and a 200-day moving average price of $279.01.
In other Insulet news, EVP Bret Christensen sold 3,000 shares of the company’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $294.13, for a total value of $882,390.00. Following the sale, the executive vice president now owns 16,331 shares of the company’s stock, valued at $4,803,437.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shacey Petrovic sold 15,000 shares of Insulet stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $282.87, for a total value of $4,243,050.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
PODD has been the subject of several recent research reports. SVB Leerink decreased their price objective on Insulet from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, August 6th. Citigroup lifted their price target on Insulet from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Cowen raised their target price on Insulet from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 21st. Finally, Canaccord Genuity raised their target price on shares of Insulet from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $282.31.
Insulet Company Profile
Insulet Corp. is a medical device company, which engages in the development, manufacture, and marketing of an insulin infusion system for people with insulin-dependent diabetes. It specializes in diabetes supplies, including the OmniPod System, as well as other diabetes related products and supplies such as blood glucose testing supplies, traditional insulin pumps, pump supplies, and pharmaceuticals.
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