Trexquant Investment LP Acquires New Stake in Insulet Co. (NASDAQ:PODD)

Trexquant Investment LP bought a new stake in Insulet Co. (NASDAQ:PODDGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,471 shares of the medical instruments supplier’s stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC bought a new position in shares of Insulet during the first quarter valued at $136,901,000. Clearbridge Investments LLC increased its stake in shares of Insulet by 38.8% in the first quarter. Clearbridge Investments LLC now owns 1,696,822 shares of the medical instruments supplier’s stock worth $452,016,000 after purchasing an additional 474,545 shares in the last quarter. Echo Street Capital Management LLC increased its stake in shares of Insulet by 60.8% in the first quarter. Echo Street Capital Management LLC now owns 802,434 shares of the medical instruments supplier’s stock worth $213,760,000 after purchasing an additional 303,355 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Insulet by 106.9% in the first quarter. Renaissance Technologies LLC now owns 182,900 shares of the medical instruments supplier’s stock worth $48,723,000 after purchasing an additional 94,500 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Insulet by 48.0% in the first quarter. Blair William & Co. IL now owns 256,997 shares of the medical instruments supplier’s stock worth $68,461,000 after purchasing an additional 83,358 shares in the last quarter.

Insulet Trading Up 1.0 %

Shares of PODD opened at $292.63 on Friday. The firm has a 50 day moving average price of $256.69 and a 200-day moving average price of $242.22. Insulet Co. has a fifty-two week low of $181.00 and a fifty-two week high of $320.00. The company has a debt-to-equity ratio of 3.22, a quick ratio of 3.00 and a current ratio of 3.98. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of 1,219.29 and a beta of 0.79.

Insider Activity at Insulet

In related news, Director Shacey Petrovic sold 15,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $231.80, for a total transaction of $3,477,000.00. Following the completion of the sale, the director now directly owns 13,695 shares in the company, valued at approximately $3,174,501. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Insulet news, SVP Michael P. Spears sold 13,658 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $308.99, for a total value of $4,220,185.42. Following the completion of the transaction, the senior vice president now directly owns 8,792 shares in the company, valued at approximately $2,716,640.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shacey Petrovic sold 15,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $231.80, for a total transaction of $3,477,000.00. Following the completion of the transaction, the director now owns 13,695 shares of the company’s stock, valued at $3,174,501. The disclosure for this sale can be found here. Insiders sold 28,858 shares of company stock worth $7,756,109 in the last three months. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Insulet from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, November 4th. Raymond James boosted their price objective on shares of Insulet from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. BTIG Research boosted their price objective on shares of Insulet from $285.00 to $320.00 in a research note on Friday, November 4th. Canaccord Genuity Group boosted their price objective on shares of Insulet from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Insulet from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Insulet has a consensus rating of “Moderate Buy” and an average target price of $300.62.

Insulet Profile

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Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.

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Institutional Ownership by Quarter for Insulet (NASDAQ:PODD)

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