Hudson Bay Capital Management LP Makes New $3.86 Million Investment in Insulet Corporation $PODD

Hudson Bay Capital Management LP purchased a new position in shares of Insulet Corporation (NASDAQ:PODD) during the third quarter, Holdings Channel reports. The institutional investor purchased 12,504 shares of the medical instruments supplier’s stock, valued at approximately $3,860,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in Insulet by 44.8% in the first quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 64 shares during the period. Creative Planning increased its position in Insulet by 1.6% during the 2nd quarter. Creative Planning now owns 8,408 shares of the medical instruments supplier’s stock valued at $2,642,000 after purchasing an additional 136 shares during the period. Cetera Investment Advisers raised its holdings in shares of Insulet by 80.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,677 shares of the medical instruments supplier’s stock valued at $3,669,000 after purchasing an additional 5,222 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Insulet by 1.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 71,011 shares of the medical instruments supplier’s stock worth $22,310,000 after purchasing an additional 940 shares during the period. Finally, Prudential PLC lifted its position in shares of Insulet by 127.6% in the 2nd quarter. Prudential PLC now owns 3,155 shares of the medical instruments supplier’s stock worth $991,000 after purchasing an additional 1,769 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PODD. Leerink Partners cut their price objective on shares of Insulet from $386.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. TD Cowen lowered Insulet from a “buy” rating to a “hold” rating and set a $294.00 target price for the company. in a report on Monday, January 26th. Evercore set a $340.00 target price on Insulet in a research report on Thursday, February 19th. UBS Group reissued a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group decreased their price objective on Insulet from $363.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $354.24.

Insulet Trading Down 0.7%

Shares of NASDAQ:PODD opened at $227.10 on Friday. The business’s 50-day moving average is $252.11 and its 200 day moving average is $293.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.81 and a quick ratio of 2.15. Insulet Corporation has a 1 year low of $216.49 and a 1 year high of $354.88. The firm has a market capitalization of $15.99 billion, a P/E ratio of 64.89, a P/E/G ratio of 1.36 and a beta of 1.42.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a return on equity of 24.90% and a net margin of 9.12%.The business had revenue of $783.80 million during the quarter, compared to the consensus estimate of $768.31 million. During the same quarter last year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 31.2% on a year-over-year basis. On average, research analysts predict that Insulet Corporation will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

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

About Insulet

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.