JPMorgan Chase & Co. cut its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,502 shares of the medical instruments supplier’s stock after selling 24,001 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Insulet Corporation worth $15,316,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Granite Investment Partners LLC increased its stake in Insulet Corporation by 0.4% during the second quarter. Granite Investment Partners LLC now owns 19,502 shares of the medical instruments supplier’s stock worth $1,001,000 after purchasing an additional 76 shares during the period. Principal Financial Group Inc. increased its stake in Insulet Corporation by 1.1% during the first quarter. Principal Financial Group Inc. now owns 8,171 shares of the medical instruments supplier’s stock worth $352,000 after purchasing an additional 92 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Insulet Corporation by 11.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,302 shares of the medical instruments supplier’s stock worth $118,000 after purchasing an additional 235 shares during the period. Legal & General Group Plc increased its stake in Insulet Corporation by 1.9% during the second quarter. Legal & General Group Plc now owns 20,233 shares of the medical instruments supplier’s stock worth $1,034,000 after purchasing an additional 376 shares during the period. Finally, Geneva Advisors LLC increased its stake in Insulet Corporation by 2.3% during the second quarter. Geneva Advisors LLC now owns 22,215 shares of the medical instruments supplier’s stock worth $1,140,000 after purchasing an additional 504 shares during the period.

In other Insulet Corporation news, EVP Charles Alpuche acquired 2,500 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $58.08 per share, for a total transaction of $145,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

A number of brokerages have issued reports on PODD. Barclays PLC began coverage on shares of Insulet Corporation in a research note on Friday, September 15th. They set an “overweight” rating and a $65.00 price target on the stock. BidaskClub upgraded shares of Insulet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. 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 research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insulet Corporation in a research note on Saturday, July 22nd. Finally, Canaccord Genuity reiterated a “hold” rating and set a $50.00 price target (up from $42.00) on shares of Insulet Corporation in a research note on Tuesday, July 11th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.50.

Insulet Corporation (NASDAQ:PODD) opened at 57.43 on Friday. Insulet Corporation has a one year low of $30.69 and a one year high of $59.99. The company has a 50-day moving average price of $56.08 and a 200-day moving average price of $47.79. The firm’s market capitalization is $3.33 billion.

Insulet Corporation (NASDAQ:PODD) last announced its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $110.00 million for the quarter, compared to the consensus estimate of $106.23 million. Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. On average, equities research analysts anticipate that Insulet Corporation will post ($0.50) EPS for the current year.

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About Insulet Corporation

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).

Institutional Ownership by Quarter for Insulet Corporation (NASDAQ:PODD)

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