Investors Sell Shares of Insulet Corporation (PODD) on Strength (PODD)
Investors sold shares of Insulet Corporation (NASDAQ:PODD) on strength during trading on Monday. $4.17 million flowed into the stock on the tick-up and $44.85 million flowed out of the stock on the tick-down, for a money net flow of $40.68 million out of the stock. Of all stocks tracked, Insulet Corporation had the 0th highest net out-flow for the day. Insulet Corporation traded up $0.59 for the day and closed at $55.67
A number of analysts have recently issued reports on the company. Barclays PLC assumed coverage on Insulet Corporation in a research report on Friday, September 15th. They set an “overweight” rating and a $65.00 target price on the stock. Zacks Investment Research upgraded Insulet Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Tuesday, July 18th. BTIG Research downgraded Insulet Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating on shares of Insulet Corporation in a report on Friday, June 16th. Finally, BidaskClub upgraded Insulet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.50.
The company has a 50-day moving average price of $57.25 and a 200-day moving average price of $48.65. The firm’s market capitalization is $3.25 billion.
Insulet Corporation (NASDAQ:PODD) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The business had revenue of $110.00 million during the quarter, compared to analyst estimates of $106.23 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts forecast that Insulet Corporation will post ($0.51) EPS for the current year.
In other news, EVP Charles Alpuche purchased 2,500 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 valued at $118,000 after purchasing an additional 235 shares during the period. Strs Ohio raised 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 valued at $172,000 after purchasing an additional 1,700 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Insulet Corporation in the second quarter valued at $180,000. Teacher Retirement System of Texas acquired a new position in shares of Insulet Corporation in the first quarter valued at $201,000. Finally, Diversified Trust Co acquired a new position in shares of Insulet Corporation in the second quarter valued at $205,000.
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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).
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