Pallas Capital Advisors LLC bought a new position in Insulet Co. (NASDAQ:PODD – Free Report) in the second quarter, Holdings Channel reports. The institutional investor bought 1,093 shares of the medical instruments supplier’s stock, valued at approximately $213,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in shares of Insulet in the 1st quarter valued at about $29,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Insulet during the fourth quarter valued at approximately $34,000. Jones Financial Companies Lllp purchased a new stake in shares of Insulet during the fourth quarter valued at approximately $40,000. Lindbrook Capital LLC grew its holdings in shares of Insulet by 64.1% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the medical instruments supplier’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Finally, CVA Family Office LLC increased its stake in shares of Insulet by 138.1% in the second quarter. CVA Family Office LLC now owns 250 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 145 shares during the period.
Insider Activity
In other Insulet news, SVP Mark N. Field sold 1,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the sale, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Insulet news, Director Timothy J. Scannell sold 7,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $190.51, for a total value of $1,333,570.00. Following the completion of the sale, the director now owns 35,586 shares in the company, valued at approximately $6,779,488.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark N. Field sold 1,500 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $199.96, for a total value of $299,940.00. Following the completion of the transaction, the senior vice president now owns 12,875 shares in the company, valued at $2,574,485. The disclosure for this sale can be found here. Insiders sold a total of 13,931 shares of company stock valued at $2,636,286 in the last 90 days. Company insiders own 0.47% of the company’s stock.
Insulet Stock Performance
Insulet (NASDAQ:PODD – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Insulet had a return on equity of 30.73% and a net margin of 21.11%. The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $488.00 million. During the same quarter last year, the company earned $0.38 EPS. Insulet’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Insulet Co. will post 3.04 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Barclays boosted their price target on Insulet from $200.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Raymond James decreased their price target on shares of Insulet from $218.00 to $213.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Redburn Atlantic began coverage on shares of Insulet in a research note on Thursday, May 30th. They set a “buy” rating and a $235.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Insulet from $255.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $234.00 price target on shares of Insulet in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.13.
Read Our Latest Stock Analysis on Insulet
Insulet Profile
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.
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