Seven Eight Capital LP Takes $1.42 Million Position in Insulet Co. (NASDAQ:PODD)

Seven Eight Capital LP acquired a new position in shares of Insulet Co. (NASDAQ:PODD) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,275 shares of the medical instruments supplier’s stock, valued at approximately $1,418,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Insulet by 119.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 79,375 shares of the medical instruments supplier’s stock worth $17,223,000 after buying an additional 43,147 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Insulet by 276.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,221 shares of the medical instruments supplier’s stock worth $2,069,000 after purchasing an additional 7,507 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Insulet by 33.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 36,677 shares of the medical instruments supplier’s stock worth $8,048,000 after purchasing an additional 9,240 shares in the last quarter. Aquila Investment Management LLC bought a new position in shares of Insulet in the fourth quarter worth $1,302,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Insulet by 349.3% in the first quarter. SG Americas Securities LLC now owns 29,575 shares of the medical instruments supplier’s stock valued at $5,069,000 after buying an additional 22,993 shares during the period.

Insider Activity at Insulet

In related news, Director Timothy J. Scannell sold 7,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now owns 35,586 shares in the company, valued at $6,779,488.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insulet news, SVP Mark N. Field sold 1,500 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the transaction, the senior vice president now directly owns 12,875 shares of the company’s stock, valued at $2,574,485. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy J. Scannell sold 7,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the transaction, the director now directly owns 35,586 shares of the company’s stock, valued at $6,779,488.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,931 shares of company stock worth $2,636,286. 0.47% of the stock is owned by insiders.

Insulet Stock Performance

Shares of NASDAQ:PODD traded down $2.38 during trading on Wednesday, hitting $194.38. 298,678 shares of the stock were exchanged, compared to its average volume of 835,108. The company’s fifty day simple moving average is $192.74 and its 200-day simple moving average is $184.69. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.75 and a current ratio of 3.74. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 59.62, a price-to-earnings-growth ratio of 3.49 and a beta of 1.16. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $283.40.

Insulet (NASDAQ:PODD) last issued its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.34. The firm had revenue of $441.70 million during the quarter, compared to the consensus estimate of $424.05 million. Insulet had a return on equity of 34.06% and a net margin of 13.14%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Sell-side analysts expect that Insulet Co. will post 3.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James cut their price objective on Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Jefferies Financial Group upped their price objective on Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 10th. Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Tuesday, May 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $234.00 target price on shares of Insulet in a report on Tuesday. Finally, Redburn Atlantic assumed coverage on Insulet in a report on Thursday, May 30th. They set a “buy” rating and a $235.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.18.

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.