Rhenman & Partners Asset Management AB Acquires 17,000 Shares of Insulet Co. (NASDAQ:PODD)

Rhenman & Partners Asset Management AB increased its holdings in Insulet Co. (NASDAQ:PODD) by 42.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,000 shares of the medical instruments supplier’s stock after buying an additional 17,000 shares during the period. Insulet accounts for 1.5% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 24th biggest position. Rhenman & Partners Asset Management AB’s holdings in Insulet were worth $14,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PODD. Intech Investment Management LLC purchased a new stake in shares of Insulet during the third quarter worth about $224,000. Public Sector Pension Investment Board grew its stake in shares of Insulet by 14.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,099 shares of the medical instruments supplier’s stock valued at $721,000 after acquiring an additional 400 shares during the period. Captrust Financial Advisors grew its holdings in Insulet by 5.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,760 shares of the medical instruments supplier’s stock valued at $410,000 after buying an additional 86 shares in the last quarter. Holocene Advisors LP raised its stake in Insulet by 1.0% during the third quarter. Holocene Advisors LP now owns 14,986 shares of the medical instruments supplier’s stock valued at $3,488,000 after purchasing an additional 154 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in shares of Insulet by 27.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 2,850 shares of the medical instruments supplier’s stock worth $663,000 after purchasing an additional 615 shares during the period.

Insulet Stock Down 4.5 %

PODD stock opened at $245.26 on Friday. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $17.22 billion, a P/E ratio of 42.36, a PEG ratio of 3.62 and a beta of 1.30. The firm has a 50 day simple moving average of $269.86 and a 200-day simple moving average of $259.53.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a net margin of 20.19% and a return on equity of 24.46%. The firm had revenue of $597.50 million for the quarter, compared to analysts’ expectations of $582.02 million. On average, equities research analysts predict that Insulet Co. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PODD shares. Wells Fargo & Company boosted their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus upped their target price on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a report on Friday, February 21st. Royal Bank of Canada began coverage on Insulet in a report on Thursday, March 6th. They set an “outperform” rating and a $340.00 target price for the company. JPMorgan Chase & Co. raised their price target on Insulet from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group raised their price objective on Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insulet presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.06.

Insider Activity at Insulet

In other Insulet news, EVP Eric Benjamin sold 12,394 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the transaction, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,825 shares of the 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 transaction, the director now owns 3,231 shares of the company’s stock, valued at approximately $888,525. The trade was a 36.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Insulet Company Profile

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.