Columbus Circle Investors lifted its holdings in Insulet Co. (NASDAQ:PODD) by 39.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,538 shares of the medical instruments supplier’s stock after buying an additional 82,892 shares during the quarter. Columbus Circle Investors owned 0.50% of Insulet worth $25,271,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PODD. Frontier Capital Management Co. LLC boosted its stake in shares of Insulet by 42.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,096,131 shares of the medical instruments supplier’s stock valued at $144,633,000 after buying an additional 624,465 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Insulet by 154.1% in the fourth quarter. Millennium Management LLC now owns 941,567 shares of the medical instruments supplier’s stock valued at $64,968,000 after buying an additional 571,082 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Insulet by 328.2% in the fourth quarter. Renaissance Technologies LLC now owns 661,200 shares of the medical instruments supplier’s stock valued at $45,623,000 after buying an additional 506,800 shares in the last quarter. Fred Alger Management Inc. boosted its stake in shares of Insulet by 32.5% in the fourth quarter. Fred Alger Management Inc. now owns 1,808,616 shares of the medical instruments supplier’s stock valued at $124,795,000 after buying an additional 443,970 shares in the last quarter. Finally, Wasatch Advisors Inc. purchased a new stake in shares of Insulet in the first quarter valued at approximately $34,841,000.
A number of analysts recently weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a $90.00 price target on shares of Insulet in a research note on Wednesday, May 2nd. Berenberg Bank assumed coverage on Insulet in a report on Friday, April 20th. They set a “buy” rating and a $100.00 price objective for the company. Piper Jaffray lifted their price objective on Insulet from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, May 3rd. Oppenheimer set a $90.00 price objective on Insulet and gave the stock a “hold” rating in a report on Friday, May 4th. Finally, ValuEngine raised Insulet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Insulet currently has an average rating of “Buy” and an average price target of $88.12.
Insulet (NASDAQ:PODD) last released its quarterly earnings results on Thursday, May 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.08. Insulet had a negative return on equity of 20.02% and a negative net margin of 4.82%. The company had revenue of $123.60 million during the quarter, compared to analysts’ expectations of $121.76 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. research analysts predict that Insulet Co. will post -0.22 earnings per share for the current fiscal year.
In other news, Director John A. Fallon sold 9,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $84.10, for a total value of $756,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael P. Spears sold 8,114 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $86.64, for a total value of $702,996.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,998 shares of company stock valued at $3,207,800. Insiders own 3.60% of the company’s stock.
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod Insulin Management System (Omnipod System), which consists of an easy-to-use continuous insulin delivery system; and Personal Diabetes Manager, a handheld wireless device.
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