World Asset Management Inc bought a new stake in Insulet Co. (NASDAQ:PODD) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,946 shares of the medical instruments supplier’s stock, valued at approximately $232,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Flagship Harbor Advisors LLC raised its position in shares of Insulet by 8.6% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,577 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 125 shares in the last quarter. Cortina Asset Management LLC raised its position in shares of Insulet by 5.4% in the 2nd quarter. Cortina Asset Management LLC now owns 2,447 shares of the medical instruments supplier’s stock valued at $292,000 after purchasing an additional 126 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Insulet by 0.8% in the 1st quarter. CIBC Private Wealth Group LLC now owns 16,404 shares of the medical instruments supplier’s stock valued at $1,560,000 after purchasing an additional 129 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Insulet by 8.2% in the 1st quarter. OLD National Bancorp IN now owns 2,839 shares of the medical instruments supplier’s stock valued at $270,000 after purchasing an additional 216 shares in the last quarter. Finally, Manchester Capital Management LLC acquired a new position in shares of Insulet in the 1st quarter valued at approximately $31,000.
PODD has been the topic of a number of recent analyst reports. Guggenheim upped their target price on Insulet from $100.00 to $145.00 and gave the company a “positive” rating in a research report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 target price (up from $110.00) on shares of Insulet in a research report on Tuesday. JPMorgan Chase & Co. raised Insulet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $155.00 in a research report on Tuesday. BidaskClub raised Insulet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Finally, Northland Securities lowered Insulet from an “outperform” rating to a “market perform” rating and set a $100.00 price target on the stock. in a research report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $131.71.
Insulet (NASDAQ:PODD) last posted its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $177.10 million for the quarter, compared to analyst estimates of $163.63 million. Insulet had a net margin of 2.37% and a return on equity of 7.01%. The business’s revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. On average, analysts predict that Insulet Co. will post 0.27 earnings per share for the current fiscal year.
In related news, insider Shacey Petrovic sold 895 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $113.00, for a total transaction of $101,135.00. Following the completion of the transaction, the insider now directly owns 95,559 shares in the company, valued at approximately $10,798,167. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Charles Alpuche sold 3,900 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $104.78, for a total value of $408,642.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,894 shares of company stock worth $4,524,025. Corporate 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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