Dark Forest Capital Management LP Purchases 1,291 Shares of Insulet Co. (NASDAQ:PODD)

Dark Forest Capital Management LP boosted its holdings in Insulet Co. (NASDAQ:PODD) by 86.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,784 shares of the medical instruments supplier’s stock after buying an additional 1,291 shares during the quarter. Dark Forest Capital Management LP’s holdings in Insulet were worth $727,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PODD. SBI Securities Co. Ltd. bought a new position in shares of Insulet during the fourth quarter valued at $36,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Insulet by 30.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,395 shares of the medical instruments supplier’s stock valued at $2,192,000 after purchasing an additional 1,942 shares during the period. Ayrshire Capital Management LLC increased its holdings in Insulet by 34.6% in the fourth quarter. Ayrshire Capital Management LLC now owns 22,988 shares of the medical instruments supplier’s stock valued at $6,001,000 after purchasing an additional 5,911 shares during the period. Jennison Associates LLC raised its position in Insulet by 21.8% during the 4th quarter. Jennison Associates LLC now owns 158,342 shares of the medical instruments supplier’s stock worth $41,338,000 after purchasing an additional 28,375 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Insulet during the 4th quarter worth about $1,234,000.

Insider Transactions at Insulet

In other news, Director Wayne A.I. Frederick sold 1,825 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares in the company, valued at $888,525. This represents a 36.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PODD. Raymond James restated an “outperform” rating and set a $328.00 price objective (up from $294.00) on shares of Insulet in a research report on Friday, February 21st. Wells Fargo & Company increased their target price on shares of Insulet from $305.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Insulet from $304.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com cut shares of Insulet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, TD Cowen boosted their target price on shares of Insulet from $264.00 to $324.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Insulet currently has a consensus rating of “Moderate Buy” and an average price target of $292.06.

Insulet Price Performance

Shares of NASDAQ:PODD opened at $259.38 on Friday. Insulet Co. has a twelve month low of $160.19 and a twelve month high of $289.46. The stock’s 50 day moving average is $260.61 and its 200-day moving average is $261.27. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 3.62 and a beta of 1.30.

Insulet (NASDAQ:PODD) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.15. The firm had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a net margin of 20.19% and a return on equity of 24.46%. Sell-side analysts forecast that Insulet Co. will post 3.92 EPS 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.