Cinctive Capital Management LP Purchases Shares of 52,130 Insulet Co. (NASDAQ:PODD)

Cinctive Capital Management LP acquired a new stake in Insulet Co. (NASDAQ:PODD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 52,130 shares of the medical instruments supplier’s stock, valued at approximately $13,610,000. Insulet accounts for about 0.7% of Cinctive Capital Management LP’s holdings, making the stock its 27th largest position.

Several other large investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its position in Insulet by 1.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,561 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 42 shares during the period. Horizon Investments LLC raised its position in shares of Insulet by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,387 shares of the medical instruments supplier’s stock valued at $362,000 after buying an additional 42 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Insulet by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,388 shares of the medical instruments supplier’s stock valued at $1,146,000 after buying an additional 43 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Insulet by 2.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,080 shares of the medical instruments supplier’s stock worth $484,000 after acquiring an additional 47 shares during the period. Finally, Graypoint LLC boosted its position in shares of Insulet by 5.3% during the 4th quarter. Graypoint LLC now owns 930 shares of the medical instruments supplier’s stock worth $243,000 after acquiring an additional 47 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have commented on PODD. Stifel Nicolaus boosted their price objective on shares of Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Raymond James reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $294.00) on shares of Insulet in a research note on Friday, February 21st. TD Cowen increased their price target on Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their price objective on Insulet from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Insulet has an average rating of “Moderate Buy” and an average target price of $292.06.

Insulet Trading Up 0.2 %

NASDAQ:PODD opened at $263.18 on Wednesday. The company has a market cap of $18.48 billion, a PE ratio of 45.45, a PEG ratio of 3.62 and a beta of 1.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.68 and a quick ratio of 2.80. Insulet Co. has a one year low of $160.19 and a one year high of $289.46. The firm has a 50-day moving average of $271.17 and a 200-day moving average of $259.40.

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

Insider Activity at Insulet

In related news, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $280.00, for a total transaction of $3,470,320.00. Following the completion of the transaction, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. This represents a 52.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,825 shares of Insulet stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $275.00, for a total transaction of $501,875.00. Following the completion of the sale, the director now directly owns 3,231 shares in the company, valued at approximately $888,525. This represents a 36.10 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently 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.