Wolverine Asset Management LLC Sells 1,495,237 Shares of Insulet Co. (NASDAQ:PODD)

Wolverine Asset Management LLC lowered its position in Insulet Co. (NASDAQ:PODD) by 99.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,163 shares of the medical instruments supplier’s stock after selling 1,495,237 shares during the period. Wolverine Asset Management LLC’s holdings in Insulet were worth $1,120,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Baillie Gifford & Co. purchased a new position in shares of Insulet in the fourth quarter valued at about $263,144,000. William Blair Investment Management LLC lifted its position in shares of Insulet by 145.1% in the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock worth $116,894,000 after buying an additional 433,884 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Insulet by 227.3% in the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock worth $61,673,000 after buying an additional 268,553 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Insulet by 62.4% in the third quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after buying an additional 244,922 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Insulet in the third quarter worth about $29,455,000.

Analyst Ratings Changes

A number of research firms recently commented on PODD. Stifel Nicolaus boosted their target price on Insulet from $163.00 to $208.00 and gave the stock a “hold” rating in a research report on Monday, February 5th. Barclays decreased their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. upped their price objective on Insulet from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Piper Sandler decreased their price objective on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.21.

Insider Transactions at Insulet

In other news, Director Shacey Petrovic sold 11,609 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the transaction, the director now directly owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Insulet Price Performance

Shares of PODD opened at $164.17 on Friday. The business’s 50-day moving average is $172.00 and its two-hundred day moving average is $179.25. The company has a market capitalization of $11.50 billion, a P/E ratio of 56.42, a P/E/G ratio of 3.01 and a beta of 0.98. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.62 and a current ratio of 3.51. Insulet Co. has a fifty-two week low of $125.82 and a fifty-two week high of $335.91.

Insulet (NASDAQ:PODD) last posted its quarterly earnings data on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping the consensus estimate of $0.67 by $0.73. Insulet had a return on equity of 32.19% and a net margin of 12.16%. The company had revenue of $509.80 million during the quarter, compared to analyst estimates of $461.26 million. During the same period in the previous year, the business earned $0.55 EPS. Insulet’s quarterly revenue was up 37.9% on a year-over-year basis. Research analysts predict that Insulet Co. will post 3.08 earnings per share for the current year.

Insulet 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.