TimesSquare Capital Management LLC Sells 13,200 Shares of Insulet Co. (NASDAQ:PODD)

TimesSquare Capital Management LLC cut its position in shares of Insulet Co. (NASDAQ:PODD) by 57.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the medical instruments supplier’s stock after selling 13,200 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Insulet were worth $2,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in shares of Insulet in the 4th quarter worth about $263,144,000. William Blair Investment Management LLC increased its stake in shares of Insulet by 145.1% during the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after purchasing an additional 433,884 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Insulet by 227.3% during the third quarter. Qube Research & Technologies Ltd now owns 386,687 shares of the medical instruments supplier’s stock valued at $61,673,000 after purchasing an additional 268,553 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Insulet by 62.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after purchasing an additional 244,922 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Insulet in the 3rd quarter worth approximately $29,455,000.

Insider Transactions at Insulet

In related news, Director Shacey Petrovic sold 11,609 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $162.92, for a total value of $1,891,338.28. Following the transaction, the director now owns 2,567 shares of the company’s stock, valued at approximately $418,215.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PODD. Barclays cut their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Wolfe Research upgraded shares of Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler dropped 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. Finally, Stifel Nicolaus boosted their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insulet Trading Up 1.1 %

Shares of NASDAQ PODD traded up $1.96 during trading hours on Thursday, hitting $177.53. 1,732,097 shares of the company traded hands, compared to its average volume of 861,623. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 60.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company’s 50 day moving average price is $170.32 and its 200 day moving average price is $181.66. Insulet Co. has a 12 month low of $125.82 and a 12 month high of $331.65. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86.

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

About Insulet

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.