Patton Fund Management Inc. Reduces Holdings in Insulet Corporation $PODD

Patton Fund Management Inc. trimmed its stake in Insulet Corporation (NASDAQ:PODD) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 813 shares of the medical instruments supplier’s stock after selling 14,003 shares during the period. Patton Fund Management Inc.’s holdings in Insulet were worth $231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PODD. NewEdge Advisors LLC lifted its position in shares of Insulet by 44.8% in the 1st quarter. NewEdge Advisors LLC now owns 207 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 64 shares during the period. Cresset Asset Management LLC boosted its position in shares of Insulet by 7.3% during the second quarter. Cresset Asset Management LLC now owns 2,587 shares of the medical instruments supplier’s stock valued at $813,000 after purchasing an additional 177 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Insulet by 68.7% during the second quarter. Cerity Partners LLC now owns 17,262 shares of the medical instruments supplier’s stock valued at $5,423,000 after purchasing an additional 7,030 shares in the last quarter. Sei Investments Co. boosted its position in shares of Insulet by 27.4% during the second quarter. Sei Investments Co. now owns 137,643 shares of the medical instruments supplier’s stock valued at $43,245,000 after purchasing an additional 29,584 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Insulet by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 32,752 shares of the medical instruments supplier’s stock valued at $10,290,000 after purchasing an additional 791 shares in the last quarter.

Insulet Trading Up 1.9%

Insulet stock opened at $201.49 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $230.08 and its two-hundred day simple moving average is $277.53. Insulet Corporation has a 12 month low of $194.61 and a 12 month high of $354.88. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 57.57, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47.

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

Insider Buying and Selling

In related news, Director Michael R. Minogue bought 2,030 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $246.23 per share, with a total value of $499,846.90. Following the completion of the acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Insulet from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Citigroup lowered Insulet from a “buy” rating to a “neutral” rating and dropped their price target for the company from $338.00 to $230.00 in a research report on Tuesday, April 7th. Stifel Nicolaus dropped their price target on Insulet from $370.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Barclays restated an “underweight” rating and set a $286.00 price target on shares of Insulet in a research report on Thursday, February 19th. Finally, UBS Group restated a “buy” rating on shares of Insulet in a research report on Thursday, December 18th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $336.52.

About Insulet

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.