Northern Trust Corp grew its stake in shares of Insulet Corporation (NASDAQ:PODD) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 777,986 shares of the medical instruments supplier’s stock after acquiring an additional 24,188 shares during the period. Northern Trust Corp owned about 1.34% of Insulet Corporation worth $39,919,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 acquiring an additional 235 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Insulet Corporation during the second quarter valued at approximately $180,000. Diversified Trust Co bought a new stake in shares of Insulet Corporation during the second quarter valued at approximately $205,000. Wrapmanager Inc. bought a new stake in shares of Insulet Corporation during the second quarter valued at approximately $217,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Insulet Corporation during the first quarter valued at approximately $201,000.
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Several analysts have recently weighed in on PODD shares. Zacks Investment Research raised shares of Insulet Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub downgraded shares of Insulet Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Cowen and Company reaffirmed a “buy” rating and set a $52.00 price target on shares of Insulet Corporation in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Insulet Corporation in a research note on Friday, July 14th. Finally, Northland Securities reaffirmed a “buy” rating on shares of Insulet Corporation in a research note on Friday, August 4th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.29.
In other Insulet Corporation news, EVP Charles Alpuche bought 2,500 shares of Insulet Corporation 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 filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.
Insulet Corporation (NASDAQ:PODD) last released its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The company had revenue of $110.00 million for the quarter, compared to analyst estimates of $106.23 million. Insulet Corporation had a negative net margin of 7.30% and a negative return on equity of 46.74%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS.
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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