Columbus Circle Investors raised its position in shares of Insulet Co. (NASDAQ:PODD) by 39.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291,538 shares of the medical instruments supplier’s stock after acquiring an additional 82,892 shares during the period. Columbus Circle Investors’ holdings in Insulet were worth $25,271,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. First Mercantile Trust Co. grew its position in Insulet by 59.5% during the first quarter. First Mercantile Trust Co. now owns 23,674 shares of the medical instruments supplier’s stock valued at $2,052,000 after acquiring an additional 8,834 shares during the period. Schwab Charles Investment Management Inc. grew its position in Insulet by 11.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 307,737 shares of the medical instruments supplier’s stock valued at $26,675,000 after acquiring an additional 30,807 shares during the period. State of Wisconsin Investment Board purchased a new stake in Insulet during the first quarter valued at about $3,467,000. Swiss National Bank grew its position in Insulet by 2.2% during the first quarter. Swiss National Bank now owns 101,100 shares of the medical instruments supplier’s stock valued at $8,763,000 after acquiring an additional 2,200 shares during the period. Finally, Victory Capital Management Inc. grew its position in Insulet by 105.6% during the first quarter. Victory Capital Management Inc. now owns 438,570 shares of the medical instruments supplier’s stock valued at $38,015,000 after acquiring an additional 225,230 shares during the period.
Shares of Insulet opened at $87.55 on Friday, according to MarketBeat Ratings. Insulet Co. has a 1-year low of $85.17 and a 1-year high of $87.22. The company has a quick ratio of 5.16, a current ratio of 5.48 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $5.08 billion, a PE ratio of -190.33 and a beta of 1.39.
Insulet (NASDAQ:PODD) last issued its earnings results on Thursday, May 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Insulet had a negative return on equity of 20.02% and a negative net margin of 4.82%. The company had revenue of $123.60 million during the quarter, compared to the consensus estimate of $121.76 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. research analysts anticipate that Insulet Co. will post -0.22 EPS for the current fiscal year.
In related news, COO Shacey Petrovic sold 1,319 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $76.81, for a total value of $101,312.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David A. Lemoine sold 641 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $76.81, for a total value of $49,235.21. The disclosure for this sale can be found here. Insiders sold 37,998 shares of company stock valued at $3,207,800 in the last ninety days. Company insiders own 3.60% of the company’s stock.
A number of equities research analysts have issued reports on PODD shares. Zacks Investment Research raised Insulet from a “sell” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Tuesday, May 8th. Barclays reissued an “overweight” rating and set a $90.00 price target (up previously from $85.00) on shares of Insulet in a research report on Thursday, February 22nd. BidaskClub raised Insulet from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 23rd. Berenberg Bank started coverage on Insulet in a research report on Friday, April 20th. They set a “buy” rating and a $100.00 price target for the company. Finally, ValuEngine raised Insulet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.12.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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