Westfield Capital Management Co. LP Sells 11,362 Shares of Insulet Corporation $PODD

Westfield Capital Management Co. LP cut its position in Insulet Corporation (NASDAQ:PODD) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,387 shares of the medical instruments supplier’s stock after selling 11,362 shares during the period. Westfield Capital Management Co. LP owned 0.29% of Insulet worth $62,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Insulet in the second quarter valued at approximately $324,689,000. Qube Research & Technologies Ltd bought a new position in shares of Insulet in the 2nd quarter worth $131,439,000. Worldquant Millennium Advisors LLC acquired a new stake in Insulet in the 2nd quarter valued at $80,082,000. Munro Partners grew its position in Insulet by 1,483.0% in the 3rd quarter. Munro Partners now owns 227,240 shares of the medical instruments supplier’s stock valued at $70,156,000 after purchasing an additional 212,885 shares during the period. Finally, Parnassus Investments LLC bought a new stake in Insulet during the 3rd quarter valued at $46,525,000.

Insider Buying and Selling at Insulet

In other news, Director Michael R. Minogue purchased 2,030 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the purchase, the director owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Insulet Stock Up 1.4%

PODD opened at $251.50 on Friday. Insulet Corporation has a twelve month low of $230.05 and a twelve month high of $354.88. The company’s 50-day moving average price is $269.07 and its two-hundred day moving average price is $303.58. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 71.86, a PEG ratio of 1.48 and a beta of 1.41. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million for the quarter, compared to analysts’ expectations of $768.31 million. During the same quarter in the previous year, the firm posted $1.15 EPS. Insulet’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts expect that Insulet Corporation will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Insulet from $380.00 to $345.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. UBS Group reaffirmed a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Raymond James Financial decreased their price objective on Insulet from $385.00 to $355.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Evercore set a $340.00 price objective on Insulet in a research note on Thursday, February 19th. Finally, Zacks Research cut Insulet from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.57.

Insulet Company Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.