Insulet Corporation $PODD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Insulet Corporation (NASDAQ:PODD) by 94.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,265 shares of the medical instruments supplier’s stock after selling 5,064,519 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Insulet worth $85,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC increased its position in Insulet by 4.6% during the 3rd quarter. Sage Mountain Advisors LLC now owns 743 shares of the medical instruments supplier’s stock valued at $229,000 after buying an additional 33 shares in the last quarter. Glenmede Investment Management LP boosted its holdings in Insulet by 1.6% in the third quarter. Glenmede Investment Management LP now owns 2,292 shares of the medical instruments supplier’s stock worth $708,000 after acquiring an additional 35 shares in the last quarter. Curi Capital LLC boosted its holdings in Insulet by 0.8% in the second quarter. Curi Capital LLC now owns 4,346 shares of the medical instruments supplier’s stock worth $1,365,000 after acquiring an additional 36 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Insulet by 0.9% during the third quarter. WINTON GROUP Ltd now owns 4,086 shares of the medical instruments supplier’s stock worth $1,261,000 after acquiring an additional 37 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd grew its stake in shares of Insulet by 28.7% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 175 shares of the medical instruments supplier’s stock worth $55,000 after acquiring an additional 39 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on PODD. Oppenheimer decreased their price objective on shares of Insulet from $365.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Raymond James Financial dropped their target price on shares of Insulet from $385.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. UBS Group restated a “buy” rating on shares of Insulet in a research note on Thursday, December 18th. Sanford C. Bernstein decreased their price target on shares of Insulet from $380.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, BTIG Research reiterated a “buy” rating and set a $380.00 price objective on shares of Insulet in a research note on Wednesday, February 18th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.24.

Insider Activity at Insulet

In other Insulet news, Director Michael R. Minogue acquired 2,030 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $246.23 per share, for a total transaction of $499,846.90. Following the completion of the purchase, the director directly owned 17,483 shares of the company’s stock, valued at $4,304,839.09. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Insulet Trading Down 0.1%

Insulet stock opened at $230.28 on Thursday. The stock has a 50-day moving average price of $254.64 and a 200 day moving average price of $294.78. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 65.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.42. Insulet Corporation has a 52 week low of $216.49 and a 52 week high of $354.88. The company has a quick ratio of 2.15, a current ratio of 2.81 and a debt-to-equity ratio of 0.61.

Insulet (NASDAQ:PODD) last issued its quarterly earnings results on Wednesday, February 18th. The medical instruments supplier reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. Insulet had a net margin of 9.12% and a return on equity of 24.90%. The company had revenue of $783.80 million for the quarter, compared to the consensus estimate of $768.31 million. During the same quarter in the prior year, the company earned $1.15 EPS. Insulet’s quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Insulet Corporation will post 3.92 EPS for the current year.

Insulet Profile

Insulet Corporation is a medical device company headquartered in Acton, Massachusetts, that develops, manufactures and sells insulin-delivery systems for people with diabetes. The company’s core business is the design and commercialization of its Omnipod family of tubeless, wearable insulin pumps and the consumable Pods that deliver insulin. Insulet’s products aim to simplify insulin delivery for people with type 1 diabetes and insulin-requiring type 2 diabetes by offering an alternative to traditional insulin pens and tethered pump systems.

The company’s product portfolio includes the Omnipod System line—disposable, waterproof Pods that adhere to the skin and deliver insulin—and the associated controllers and mobile applications used to program and monitor insulin delivery.