Envestnet Asset Management Inc. lifted its stake in shares of Insulet Co. (NASDAQ:PODD – Free Report) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,621 shares of the medical instruments supplier’s stock after purchasing an additional 3,672 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Insulet worth $14,551,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. American National Bank bought a new stake in shares of Insulet during the first quarter valued at about $28,000. First Manhattan Co. purchased a new stake in Insulet in the 4th quarter worth about $35,000. Lindbrook Capital LLC increased its stake in Insulet by 78.1% in the 1st quarter. Lindbrook Capital LLC now owns 114 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 50 shares during the period. Heritage Wealth Management LLC increased its stake in Insulet by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 140 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 70 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Insulet by 51.1% in the first quarter. Global Retirement Partners LLC now owns 133 shares of the medical instruments supplier’s stock valued at $43,000 after purchasing an additional 45 shares in the last quarter.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Bank of America cut their target price on Insulet from $365.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, August 24th. Citigroup raised shares of Insulet from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $273.00 to $265.00 in a report on Monday, August 21st. StockNews.com assumed coverage on Insulet in a report on Thursday, August 17th. They issued a “hold” rating for the company. Robert W. Baird downgraded Insulet from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $219.00 in a report on Monday, August 21st. Finally, Wells Fargo & Company reduced their price target on shares of Insulet from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $296.33.
Insulet Stock Up 0.2 %
NASDAQ:PODD opened at $192.18 on Monday. The stock has a market cap of $13.42 billion, a price-to-earnings ratio of 215.93, a PEG ratio of 3.28 and a beta of 0.81. The company has a current ratio of 3.34, a quick ratio of 2.38 and a debt-to-equity ratio of 2.47. The stock has a 50-day moving average price of $252.68 and a two-hundred day moving average price of $285.15. Insulet Co. has a 1 year low of $178.55 and a 1 year high of $335.91.
Insulet (NASDAQ:PODD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The medical instruments supplier reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The business had revenue of $396.50 million for the quarter, compared to analyst estimates of $383.97 million. Insulet had a net margin of 4.29% and a return on equity of 22.42%. As a group, equities analysts expect that Insulet Co. will post 1.64 earnings per share for the current year.
Insider Transactions at Insulet
In other Insulet news, SVP Dan Manea sold 175 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total transaction of $50,750.00. Following the sale, the senior vice president now directly owns 4,522 shares of the company’s stock, valued at approximately $1,311,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Wayde D. Mcmillan sold 1,388 shares of Insulet stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $282.94, for a total transaction of $392,720.72. Following the completion of the transaction, the chief financial officer now directly owns 21,477 shares in the company, valued at approximately $6,076,702.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dan Manea sold 175 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $290.00, for a total transaction of $50,750.00. Following the completion of the transaction, the senior vice president now owns 4,522 shares in the company, valued at $1,311,380. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. It offers Omnipod System, a self-adhesive disposable tubeless Omnipod device that is worn on the body for up to three days at a time, as well as its wireless companion, the handheld personal diabetes manager.
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