Gradient Investments LLC lifted its position in Insulet Co. (NASDAQ:PODD) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,242 shares of the medical instruments supplier’s stock after purchasing an additional 622 shares during the quarter. Gradient Investments LLC’s holdings in Insulet were worth $1,854,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PODD. Advisors Preferred LLC purchased a new stake in shares of Insulet during the second quarter worth about $38,000. Harvest Fund Management Co. Ltd bought a new position in shares of Insulet during the second quarter valued at approximately $43,000. Meridian Wealth Management LLC bought a new position in shares of Insulet during the first quarter valued at approximately $48,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Insulet during the second quarter valued at approximately $97,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Insulet during the second quarter valued at approximately $119,000.
NASDAQ:PODD opened at $155.61 on Friday. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 2.43. Insulet Co. has a 12 month low of $70.80 and a 12 month high of $168.98. The company has a market cap of $9.34 billion, a PE ratio of 3,112.20 and a beta of 1.02. The company has a 50 day simple moving average of $154.90 and a two-hundred day simple moving average of $122.31.
Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Insulet had a return on equity of 7.85% and a net margin of 2.66%. The business had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $163.63 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The company’s revenue was up 42.5% compared to the same quarter last year. Research analysts forecast that Insulet Co. will post 0.23 earnings per share for the current year.
Several equities research analysts recently weighed in on PODD shares. BMO Capital Markets raised their price target on shares of Insulet from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. ValuEngine downgraded shares of Insulet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim downgraded shares of Insulet from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. They noted that the move was a valuation call. Jefferies Financial Group raised their price target on shares of Insulet from $105.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Canaccord Genuity raised their price target on shares of Insulet from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $144.64.
In other Insulet news, CEO Shacey Petrovic sold 649 shares of Insulet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $152.40, for a total value of $98,907.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael P. Spears sold 4,153 shares of Insulet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.12, for a total transaction of $606,836.36. Following the completion of the sale, the senior vice president now owns 22,626 shares in the company, valued at $3,306,111.12. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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