Chartwell Investment Partners LLC lowered its position in shares of Insulet Co. (NASDAQ:PODD) by 52.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,630 shares of the medical instruments supplier’s stock after selling 18,660 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Insulet were worth $3,231,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Sciencast Management LP lifted its holdings in shares of Insulet by 104.0% during the second quarter. Sciencast Management LP now owns 3,978 shares of the medical instruments supplier’s stock valued at $772,000 after purchasing an additional 2,028 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in shares of Insulet by 168.6% during the second quarter. Shine Investment Advisory Services Inc. now owns 454 shares of the medical instruments supplier’s stock valued at $88,000 after purchasing an additional 285 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Insulet during the second quarter valued at $91,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Insulet during the second quarter valued at $212,000. Finally, Raymond James & Associates lifted its holdings in shares of Insulet by 0.9% during the second quarter. Raymond James & Associates now owns 35,762 shares of the medical instruments supplier’s stock valued at $6,947,000 after purchasing an additional 316 shares during the last quarter.
Shares of PODD stock opened at $203.36 on Friday. Insulet Co. has a 52-week low of $115.56 and a 52-week high of $228.79. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 2,542.32 and a beta of 0.91. The company has a debt-to-equity ratio of 15.24, a quick ratio of 3.42 and a current ratio of 4.15. The firm has a fifty day moving average of $196.35 and a 200-day moving average of $190.25.
Insulet (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Insulet had a net margin of 0.66% and a return on equity of 7.66%. The business had revenue of $198.00 million during the quarter, compared to analyst estimates of $189.61 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, sell-side analysts predict that Insulet Co. will post 0.11 earnings per share for the current year.
In other news, SVP Eric Benjamin sold 14,912 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $210.00, for a total value of $3,131,520.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Insulet from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Cowen increased their price objective on Insulet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Cfra increased their price objective on Insulet from $162.00 to $179.00 and gave the stock a “sell” rating in a research note on Friday, May 8th. UBS Group increased their price objective on Insulet from $195.00 to $213.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Co assumed coverage on Insulet in a research note on Tuesday, July 28th. They issued an “overweight” rating and a $231.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $198.10.
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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