Triodos Investment Management BV trimmed its position in Insulet Co. (NASDAQ:PODD) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the medical instruments supplier’s stock after selling 10,000 shares during the quarter. Triodos Investment Management BV’s holdings in Insulet were worth $3,299,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of PODD. Marshall Wace North America L.P. purchased a new position in Insulet during the 2nd quarter valued at $87,481,000. Nuveen Asset Management LLC increased its position in Insulet by 1,731.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 355,561 shares of the medical instruments supplier’s stock valued at $42,447,000 after purchasing an additional 336,148 shares during the period. Eagle Asset Management Inc. increased its position in Insulet by 86.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 709,266 shares of the medical instruments supplier’s stock valued at $116,979,000 after purchasing an additional 328,620 shares during the period. Rock Springs Capital Management LP purchased a new position in Insulet during the 2nd quarter valued at $29,188,000. Finally, William Blair Investment Management LLC increased its position in Insulet by 8.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,334,135 shares of the medical instruments supplier’s stock valued at $278,649,000 after purchasing an additional 189,147 shares during the period.
In other Insulet news, SVP Michael P. Spears sold 4,153 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.12, for a total value of $606,836.36. Following the completion of the transaction, the senior vice president now directly owns 22,626 shares in the company, valued at approximately $3,306,111.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shacey Petrovic sold 689 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $145.69, for a total value of $100,380.41. Following the completion of the transaction, the chief executive officer now owns 94,510 shares of the company’s stock, valued at $13,769,161.90. The disclosure for this sale can be found here. Insiders sold a total of 5,491 shares of company stock valued at $806,124 over the last 90 days. 3.50% of the stock is currently owned by corporate insiders.
Insulet (NASDAQ:PODD) last released its earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). Insulet had a return on equity of 9.46% and a net margin of 2.38%. The firm had revenue of $192.12 million during the quarter, compared to analysts’ expectations of $179.50 million. During the same period in the prior year, the company posted $0.03 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts anticipate that Insulet Co. will post 0.23 earnings per share for the current fiscal year.
PODD has been the topic of a number of research analyst reports. Cowen set a $165.00 price objective on shares of Insulet and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird boosted their target price on shares of Insulet from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday. Leerink Swann restated an “outperform” rating and set a $185.00 target price (up previously from $160.00) on shares of Insulet in a report on Tuesday, September 24th. Stifel Nicolaus assumed coverage on shares of Insulet in a report on Tuesday, October 22nd. They set a “hold” rating and a $163.00 target price on the stock. Finally, Canaccord Genuity cut shares of Insulet from a “buy” rating to a “hold” rating and boosted their target price for the company from $135.00 to $145.00 in a report on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $151.71.
Insulet Company Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company offers Omnipod System, which consists of self-adhesive disposable tubeless Omnipod device (the pod) that delivers insulin into the body; and Personal Diabetes Manager, a handheld wireless device, which programs the Pod.
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