Credit Suisse AG Sells 8,778 Shares of Insulet Corporation (PODD)
Credit Suisse AG reduced its position in Insulet Corporation (NASDAQ:PODD) by 15.5% during the first quarter, Holdings Channel reports. The institutional investor owned 47,741 shares of the medical instruments supplier’s stock after selling 8,778 shares during the period. Credit Suisse AG’s holdings in Insulet Corporation were worth $2,057,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of Insulet Corporation by 238.8% in the first quarter. Nationwide Fund Advisors now owns 122,304 shares of the medical instruments supplier’s stock valued at $5,270,000 after buying an additional 86,210 shares during the period. Vanguard Group Inc. boosted its position in shares of Insulet Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 4,556,847 shares of the medical instruments supplier’s stock valued at $196,355,000 after buying an additional 184,465 shares during the period. Delta Lloyd NV bought a new position in shares of Insulet Corporation during the first quarter valued at $2,171,000. Teachers Advisors LLC boosted its position in shares of Insulet Corporation by 1.0% in the fourth quarter. Teachers Advisors LLC now owns 350,439 shares of the medical instruments supplier’s stock valued at $13,205,000 after buying an additional 3,522 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Insulet Corporation by 57.6% in the fourth quarter. AQR Capital Management LLC now owns 13,423 shares of the medical instruments supplier’s stock valued at $506,000 after buying an additional 4,905 shares during the period.
Insulet Corporation (NASDAQ PODD) traded down 1.26% on Wednesday, reaching $54.02. The company’s stock had a trading volume of 75,433 shares. Insulet Corporation has a one year low of $30.69 and a one year high of $55.46. The stock’s market cap is $3.13 billion. The stock has a 50-day moving average of $50.48 and a 200-day moving average of $44.77.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). The business had revenue of $110 million during the quarter, compared to analysts’ expectations of $106.23 million. Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, analysts predict that Insulet Corporation will post ($0.51) EPS for the current fiscal year.
PODD has been the topic of several recent analyst reports. ValuEngine upgraded Insulet Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated an “overweight” rating and set a $47.00 price objective on shares of Insulet Corporation in a research note on Monday, May 22nd. Canaccord Genuity restated a “hold” rating and set a $50.00 price objective (up from $42.00) on shares of Insulet Corporation in a research note on Tuesday, July 11th. BidaskClub upgraded Insulet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC restated a “buy” rating and set a $53.00 price objective on shares of Insulet Corporation in a research note on Thursday, April 13th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $49.69.
In other Insulet Corporation news, SVP Michael P. Spears bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $40.59 per share, for a total transaction of $101,475.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bradley A. Thomas bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $38.69 per share, with a total value of $116,070.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 8,080 shares of company stock valued at $317,339. Company insiders own 2.60% of the company’s stock.
Insulet Corporation Company Profile
Insulet Corporation is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM).
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