ProShare Advisors LLC lowered its stake in Insulet Corporation (NASDAQ:PODD) by 22.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,138 shares of the medical instruments supplier’s stock after selling 1,502 shares during the quarter. ProShare Advisors LLC’s holdings in Insulet Corporation were worth $264,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Insulet Corporation by 11.4% in 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 last quarter. SG Americas Securities LLC purchased a new position in shares of Insulet Corporation during the second quarter valued at approximately $180,000. Diversified Trust Co purchased a new position in shares of Insulet Corporation during the second quarter valued at approximately $205,000. Wrapmanager Inc. purchased a new position in shares of Insulet Corporation during the second quarter valued at approximately $217,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Insulet Corporation during the first quarter valued at approximately $201,000.
Insulet Corporation (NASDAQ:PODD) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Insulet Corporation had a negative return on equity of 46.74% and a negative net margin of 7.30%. The company had revenue of $110.00 million during the quarter, compared to analysts’ expectations of $106.23 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 26.0% compared to the same quarter last year.
Several equities analysts have recently issued reports on the company. Barclays PLC assumed coverage on Insulet Corporation in a research note on Friday, September 15th. They set an “overweight” rating and a $65.00 target price on the stock. Zacks Investment Research raised Insulet Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Tuesday, July 18th. BTIG Research cut Insulet Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating on shares of Insulet Corporation in a research note on Friday, June 16th. Finally, BidaskClub raised 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 given a buy rating and one has issued a strong buy rating to the company. Insulet Corporation currently has an average rating of “Buy” and an average price target of $54.29.
In other news, EVP Charles Alpuche purchased 2,500 shares of the stock in a transaction on Wednesday, September 6th. The stock was bought at an average price of $58.08 per share, with a total value of $145,200.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
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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