Insulet Corporation (NASDAQ:PODD) Stake Boosted by C WorldWide Group Holding A S
C WorldWide Group Holding A S raised its position in Insulet Corporation (NASDAQ:PODD) by 19.7% during the second quarter, Holdings Channel reports. The fund owned 107,065 shares of the medical instruments supplier’s stock after buying an additional 17,644 shares during the period. C WorldWide Group Holding A S’s holdings in Insulet Corporation were worth $5,494,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of PODD. Strs Ohio increased its stake in shares of Insulet Corporation by 73.9% in the first quarter. Strs Ohio now owns 4,000 shares of the medical instruments supplier’s stock worth $172,000 after buying an additional 1,700 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Insulet Corporation during the second quarter worth $205,000. Teacher Retirement System of Texas acquired a new stake in shares of Insulet Corporation during the first quarter worth $201,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Insulet Corporation during the first quarter worth $215,000. Finally, Fiduciary Trust Co. acquired a new stake in shares of Insulet Corporation during the first quarter worth $226,000.
Insulet Corporation (NASDAQ PODD) opened at 52.53 on Friday. The firm’s 50-day moving average price is $51.17 and its 200-day moving average price is $45.07. The firm’s market cap is $3.05 billion. Insulet Corporation has a 1-year low of $30.69 and a 1-year high of $55.46.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The business had revenue of $110 million for the quarter, compared to analysts’ expectations of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Equities research analysts anticipate that Insulet Corporation will post ($0.51) earnings per share for the current fiscal year.
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A number of analysts have weighed in on the company. B. Riley reiterated a “neutral” rating and set a $44.00 price target on shares of Insulet Corporation in a report on Tuesday, May 9th. Oppenheimer Holdings, Inc. set a $55.00 price target on Insulet Corporation and gave the stock a “hold” rating in a report on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price target (up from $48.00) on shares of Insulet Corporation in a report on Wednesday. Northland Securities reiterated a “buy” rating on shares of Insulet Corporation in a report on Friday, August 4th. Finally, Cowen and Company reiterated an “outperform” rating and set a $63.00 price target (up from $52.00) on shares of Insulet Corporation in a report on Friday, August 4th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.46.
In other Insulet Corporation news, SVP Michael P. Spears acquired 2,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average price of $40.59 per share, for a total transaction of $101,475.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
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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